Section 8 Fair Market Rent (FMR) for ZIP 15465 - 2027
Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $790 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,420 |
| 5 Bedrooms | $1,647 |
| 6 Bedrooms | $1,845 |
| 7 Bedrooms | $1,993 |
| 8 Bedrooms | $2,093 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$45,000
To determine if a landlord should invest in ZIP code 15465 for Section 8 properties, follow this decision tree:
- 1) Does the Fair Market Rent (FMR) of $940 cover debt service on a property?
- Yes: The FMR is sufficient to cover typical debt service costs, making it financially viable to consider purchasing a property for Section 8 tenants.
- No: The FMR does not cover debt service costs, which means investing in this area would likely result in financial losses.
- 2) Is the market rent above, at, or below the FMR?
- Above: If the market rent is higher than $940, landlords might prefer to seek non-Section 8 tenants who can pay more. This reduces the attractiveness of Section 8 in this area.
- At: If the market rent equals the FMR, landlords will be indifferent between Section 8 and market-rate tenants. The decision then hinges on other factors such as tenant stability and maintenance requirements.
- Below: If the market rent is lower than $940, Section 8 becomes an attractive option since it guarantees a higher rental income compared to the local market rate.
- 3) Are 0.0% renters and N/A-day days on the market (DOM) indicative of enough demand?
- Enough Demand: If there is sufficient demand for rentals, even with low percentages of renters and unclear DOM data, landlords can still find opportunities to lease their properties under Section 8.
- Limited Demand: With 0.0% renters and unknown DOM, there appears to be little to no demand for rentals in this ZIP code. Landlords should consider other areas with higher rental activity to ensure they can fill their units.
The viability of purchasing a property in ZIP 15465 for Section 8 tenants depends on the answers to these questions. A positive outcome on all fronts—FMR covering debt service, market rent being lower or equal to FMR, and sufficient rental demand—would suggest a favorable investment opportunity. However, if any of these conditions are not met, especially the lack of rental demand, the recommendation would lean towards avoiding this ZIP code for Section 8 investments.
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.