Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,380 | $174,416 | 0.79% | D |
U.S. Census Bureau data (2024)
940 FMR (zip FY 2024) indicates the Fair Market Rent for ZIP code 15433, setting a benchmark for rental pricing. However, the N/A market rent and N/A-day DOM suggest limited recent data on actual rental prices and days on market, making it challenging to gauge current market dynamics precisely. The median home value of $140,426 provides insight into the overall housing market's valuation but does not directly correlate with rental income potential. With a renter share of 8.7%, there is a modest demand for rental properties in the area, indicating that while not overwhelming, there is a steady interest from tenants. The median income of $49,051 suggests that residents have the financial capacity to afford rents close to the FMR, assuming they allocate a reasonable portion of their income towards housing. Despite the lack of detailed data on days on market and price-cut share, which are typically crucial for assessing the competitiveness of rental listings, the available figures still paint a picture of a stable but not highly dynamic rental market. Given these factors, landlords and small-portfolio investors should focus on maintaining competitive rental rates and ensuring property quality to attract tenants.
8.7% renter share shows that while the majority of households in ZIP 15433 own their homes, there is still a significant portion relying on rentals. This demographic characteristic supports the viability of rental investments in the area. The median income of $49,051 implies that most residents can comfortably cover the $940 FMR without stretching their budgets too thin, which is positive for rental stability. Yet, the absence of specific data on how often rental prices are adjusted or how long properties remain vacant highlights the need for landlords to be proactive in managing their properties to stay attractive to renters.
140,426 median home value reflects the overall property values in ZIP 15433, which can influence the perception of rental property quality and desirability. It also serves as a reference point for potential capital appreciation if the investment strategy includes eventual property resale. While the N/A% price-cut share doesn't provide insights into how frequently rental prices are reduced to secure tenants, it's important to note that maintaining or slightly exceeding the FMR could be feasible given the median income levels. Landlords should monitor local economic indicators and adjust their strategies accordingly to maximize returns.
940 FMR (zip FY 2024) sets a clear target for rental pricing, and with a median income of $49,051, most residents can likely afford these rents. The verdict on Section 8 eligibility in ZIP 15433 leans towards favorable conditions, provided landlords comply with program requirements and manage their properties effectively to maintain occupancy and income stability.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.