Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
U.S. Census Bureau data (2024)
ZIP Code 15416, located in Brownfield, Pennsylvania, is part of South Union Township and is entirely within Fayette County. It falls under the broader region of Metro Pittsburgh. The population of 15416 is approximately 569, with a population density of 8,325 people per square mile. The majority race/ethnicity in this ZIP code is White at 84.82%, followed by Asian at 15.18%. There is a significant educational attainment level, with 10.98% holding a Master's degree and 5.34% having a Doctorate degree.
The median household income in 15416 is $74,800, which is lower than the previously mentioned figure of $119,583. This discrepancy might be due to different data sources or time periods. The unemployment rate is currently 4.6%. The sales tax rate is 6.0%. Notably, only 14.5% of households fall into the high-income category, suggesting a predominantly middle-class community.
Moving to the rental economics, the Fair Market Rent (FMR) for ZIP Code 15416 is set at $940 for fiscal year 2024. In contrast, the median monthly rent is $995, indicating a slight premium over the FMR. This suggests that landlords participating in the Section 8 program can expect to receive close to market rates for their properties.
Given these statistics, ZIP Code 15416 appears to be well-suited for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the close alignment between FMR and market rent means steady, predictable cash flow without the need for constant tenant turnover. For hands-on investors looking to add value, the potential exists to improve property quality and possibly capture higher rents above the FMR. However, the relatively low percentage of high-income households might limit the scope for significant rent increases beyond the FMR.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
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.