Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| 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 |
The analysis of ZIP code 15439 within the Pittsburgh, PA HUD Metro Fair Market Rent (FMR) area reveals several critical points for landlords and small-portfolio investors.
The rent math does not work favorably. The HUD FMR for a one-bedroom apartment in ZIP 15439 for fiscal year 2024 is set at $940. However, the lack of specific market rent data makes it challenging to assess whether this figure aligns with what tenants are willing to pay. Without precise market rent figures, it's difficult to determine if the FMR will cover operational costs and provide a reasonable profit margin.
Acquisition in this area is not straightforward due to the absence of key data points such as median home values, days on market (DOM), and the percentage of homes that require price cuts. These metrics are crucial for understanding how affordable property acquisition might be. Without these details, potential investors cannot accurately gauge the local real estate market's health and their ability to acquire properties at favorable prices.
Tenant demand is also uncertain. The ZIP code's population and the percentage of renters are not specified, which means we can't quantify the number of potential tenants looking for rental housing. This information is essential for predicting occupancy rates and ensuring steady income from rentals.
Verdict: ZIP 15439 presents a scenario where crucial data elements are missing, making it difficult to draw definitive conclusions about the feasibility of investing in rental properties. While the HUD FMR provides a benchmark for rent, the lack of market-specific data on rent, home values, DOM, and price-cut percentages leaves significant gaps in assessing both the affordability of acquisitions and the certainty of tenant demand. Investors should seek additional local market insights before committing to investments in this area.
Data Sources: FMR data from HUD (2027).
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.