Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,120 |
| 1 Bedroom | $1,200 |
| 2 Bedrooms | $1,450 |
| 3 Bedrooms | $1,850 |
| 4 Bedrooms | $2,010 |
| 5 Bedrooms | $2,332 |
| 6 Bedrooms | $2,612 |
| 7 Bedrooms | $2,821 |
| 8 Bedrooms | $2,962 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 15443 in fiscal year 2024 is set at $1310. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program, which is also known as the Housing Choice Voucher Program. It's important to note that this is not the rent you'll receive; it's the payment standard used by the government to determine the maximum subsidy for tenants.
To understand the implications of this FMR, let's compare it to the typical market rents in the area. Unfortunately, the specific local market rent for ZIP 15443 is not available, marked as N/A. However, the lack of local data suggests that there might be limited information on rental trends, possibly indicating a less competitive market. This could mean that the $1310 FMR is relatively close to the actual market rates, making it a reasonable benchmark for your rental property.
The 0.0% renter share indicates that all of the tenant's rent contribution would come from their voucher, meaning the government would cover the entire rent based on the FMR. While this sounds appealing, it's crucial to consider the demand for Section 8 vouchers in the area. With no local data available, it's challenging to predict demand accurately. However, the absence of local competition might imply fewer voucher holders seeking rentals, which could affect the number of potential tenants.
Regarding the acquisition cost of properties in ZIP 15443, again, the data is marked as N/A. This lack of detail makes it difficult to provide a precise comparison between the purchase price and the expected rental income. Nonetheless, it's essential to ensure that the property meets the necessary quality standards set by the Housing Authority to qualify for Section 8. These standards include safety, health, and habitability requirements.
Before deciding to participate in the Section 8 program with your rental property in ZIP 15443, you must verify that the property complies with the Housing Quality Standards (HQS). This involves ensuring that your rental unit meets certain maintenance and repair criteria to be eligible for the program. Compliance with these standards is non-negotiable and will directly impact your ability to enroll in the program.
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.