Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $960 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,580 |
| 4 Bedrooms | $1,720 |
| 5 Bedrooms | $1,995 |
| 6 Bedrooms | $2,234 |
| 7 Bedrooms | $2,413 |
| 8 Bedrooms | $2,534 |
U.S. Census Bureau data (2024)
The ZIP code 15430 represents a predominantly owner-occupied neighborhood with a relatively low density of renters. Out of the 224 households in the area, only 7.0% are reported to be renting their homes. The median household income in this region stands at $71,184, indicating a middle-class community that is financially stable but not necessarily affluent.
Despite the limited number of renters, the Federal Market Rent (FMR) for the area in fiscal year 2024 is set at $1060. This figure is crucial for Section 8 landlords and investors as it dictates the maximum amount that can be charged for rent under the Housing Choice Voucher program. However, the absence of data on market rents makes it challenging to assess how competitive the FMR is relative to what tenants might pay privately.
Given the low percentage of renters and the stable median income, ZIP 15430 may not be the most attractive location for a hands-off voucher operator. The demand for rental properties supported by Section 8 vouchers appears to be limited, which could result in fewer opportunities for passive income generation through this program. On the other hand, for a hands-on value-add buyer, the area presents an opportunity to renovate and improve properties, potentially attracting a wider range of tenants beyond those reliant on housing vouchers.
A hands-on approach would likely require an understanding of the local market dynamics and possibly engaging with potential tenants outside the Section 8 program to ensure a steady stream of rental income. While the FMR provides a baseline for rent pricing, the lack of specific market rent data suggests a need for further research to identify the true rental potential of properties in this ZIP code.
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.