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 | $1,000 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,290 |
| 3 Bedrooms | $1,650 |
| 4 Bedrooms | $1,790 |
| 5 Bedrooms | $2,076 |
| 6 Bedrooms | $2,325 |
| 7 Bedrooms | $2,511 |
| 8 Bedrooms | $2,637 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,290 | $199,803 | 0.65% | D |
| 3BR | $1,650 | $273,130 | 0.6% | D |
| 4BR | $1,790 | $356,428 | 0.5% | F |
U.S. Census Bureau data (2024)
The classification of ZIP code 15437, located in Farmington, PA, hinges on the analysis of both yield and stability factors. The Federal Market Rent (FMR) for FY 2024 is set at $1,200, which is slightly below the market rent of $1,202. Given the median home value of $230,345, the yield potential is modest. This suggests that while there might be a slight premium in rental income over the FMR, it is not substantial enough to categorize the area as a high-yield market.
On the stability axis, the data points to a mixed scenario. With 28.8% of residents being renters, the demand for rental properties is present but not overwhelming. The lack of available data on days on market (DOM) makes it difficult to assess how quickly properties can be rented out, which is a key indicator of stability. However, the average household income of $64,813 provides some assurance regarding tenants' ability to pay rent consistently, thereby supporting a degree of stability.
Considering these factors, ZIP 15437 is best described as a steady-cashflow zone. The yield is not particularly high given the close alignment of the FMR and market rent figures, and the home values suggest that any gains will be incremental rather than explosive. Stability is moderate due to the reasonable proportion of renters and the income level that supports consistent rental payments. Landlords and small-portfolio investors should expect reliable but not exceptionally high returns from this area.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.