Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
The analysis of ZIP code 15378 within the Pittsburgh, PA HUD Metro FMR Area reveals several key points relevant to landlords and small-portfolio investors.
The rent math does not work in favor of landlords. The Fair Market Rent (FMR) for the area is set at $1100 for zip FY 2024. However, the lack of market rent data suggests that actual rental rates may be lower, making it difficult to charge the FMR without risk of vacancy.
Acquisition in this area is challenging due to the absence of specific data on median home values, days on market (DOM), and the percentage of homes that experience price cuts. This indicates that the housing market might not be transparent or stable enough for informed investment decisions.
Tenant demand is present but uncertain. With an unspecified population and the percentage of renters not provided, it's difficult to gauge the size of the potential tenant pool. Without these figures, assessing the viability of rental properties becomes speculative rather than data-driven.
Verdict: ZIP 15378 presents a mixed picture for real estate investment. While there is tenant demand, the absence of crucial data on market rents, median home values, and market stability makes it hard to recommend investment based on the available information. Landlords and small-portfolio investors should seek additional local insights before committing to property acquisitions in this area.
Data Sources: FMR data from HUD (2027).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.