Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $930 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,530 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
U.S. Census Bureau data (2024)
The ZIP code 15460 presents several challenges for landlords considering participation in the Section 8 program. Firstly, the tenant turnover rate could be higher due to the significant gap between the market rent and the $950 Fair Market Rent (FMR) for fiscal year 2024. This discrepancy might lead to frequent changes in occupancy, as tenants who can afford higher rents may seek other accommodations outside the voucher system.
Vacancy exposure is another concern. With an average Days on Market (DOM) figure that is currently unavailable, it's difficult to predict how long properties might remain vacant. However, given the context of the area, landlords should prepare for potentially longer periods of vacancy as they wait for eligible tenants to secure their vouchers and move in.
The deferred-maintenance exposure is also notable. While the typical home value is not specified, the median income of $25,000 suggests that landlords may face difficulties in maintaining properties to acceptable standards. Tenants with limited financial resources often prioritize immediate needs over long-term property upkeep, which can result in higher maintenance costs for landlords.
Despite these risks, the 4.3% renter share in ZIP 15460 indicates a relatively high concentration of renters, which typically translates into higher demand for rental properties that accept Section 8 vouchers. This demand can help mitigate some of the risks associated with vacancy and tenant turnover, as there is likely to be a steady stream of interested voucher holders.
In summary, the combination of potential tenant turnover, vacancy exposure, and deferred-maintenance concerns makes ZIP 15460 a moderate risk for a first-time Section 8 landlord. The high renter density offers some balance, but careful consideration of the financial implications and readiness to manage maintenance costs are essential.
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.