Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $990 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,280 |
| 3 Bedrooms | $1,630 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
U.S. Census Bureau data (2024)
The ZIP code 15420 is not a renter-heavy area with deep voucher demand. With only 0.0% of the population renting, it is predominantly a homeowner-dominated area where Section 8 vouchers are less common. The median household income stands at $81,875, which suggests that residents have a higher disposable income compared to areas with lower incomes.
Market rent data is currently unavailable for this ZIP code, but we can infer some insights based on the Fair Market Rent (FMR) set by HUD. For fiscal year 2024, the FMR for ZIP 15420 is $1,010. This means that if we were to compare the median household income to the FMR, typical rent would consume approximately 12.3% of the local income. This calculation is derived from dividing the FMR by the median household income ($1,010 / $81,875 = 0.0123).
In an environment where the rental market is sparse and voucher usage is low, landlords should expect tenants who are likely to be financially stable due to the higher median income. These tenants are less likely to rely solely on housing vouchers and might have additional resources to cover rent. However, the presence of any Section 8 tenants will depend on the availability of vouchers and the willingness of landlords to accept them, given the limited demand in this area.
To conclude, ZIP 15420 is not a prime location for landlords seeking a high volume of Section 8 tenants. Instead, it attracts a more financially independent group of renters who can afford market rates without significant government assistance. Landlords should prepare for a tenant pool that values homeownership and has the financial capability to meet or exceed the FMR standards.
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.