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 | $1,010 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,300 |
| 3 Bedrooms | $1,660 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,300 | $148,111 | 0.88% | C |
| 3BR | $1,660 | $215,897 | 0.77% | D |
| 4BR | $1,800 | $255,852 | 0.7% | D |
U.S. Census Bureau data (2024)
The ZIP code 15445, located in the Hopwood, PA area of the Pittsburgh, PA HUD Metro FMR region, can be effectively utilized as a cash-flow anchor within a Section 8 portfolio strategy. The Fair Market Rent (FMR) for ZIP 15445 in fiscal year 2024 is set at $990, which is notably lower than the market rent of $1,073. This $83 spread indicates that properties in this ZIP code offer a reliable source of steady rental income, especially when considering the safety net provided by the Section 8 program.
Moreover, the median home value in ZIP 15445 is $186,226, making it an attractive location for landlords looking to minimize their capital investment while maximizing cash flow. The lower property values mean that the acquisition cost for rental units is relatively low compared to other areas, thus enhancing the profitability of the investment.
ZIP 15445 does not present itself as an appreciation play due to the lack of significant price growth potential. The price-cut share and days on market (DOM) figures are not available, suggesting that the real estate market in this area is stable rather than volatile or rapidly appreciating. This stability makes it less suitable for short-term speculative gains but ideal for long-term cash flow generation.
While ZIP 15445 has a 11.0% renter share and a median income of $47,955, these factors do not make it a primary diversification target. The renter share is relatively low, indicating that homeownership is still prevalent in the area, and the median income suggests that there is a sufficient demand for affordable housing options but not necessarily a high level of economic diversity that would warrant its inclusion purely for diversification purposes.
In conclusion, ZIP 15445 serves best as a cash-flow anchor within a Section 8 portfolio strategy. The $83 spread between the FMR and market rent ensures that landlords receive a consistent and predictable income stream, while the lower median home value supports a solid return on investment through reduced property acquisition costs.
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.