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 classification of ZIP code 15466 hinges on its financial metrics, particularly when comparing the Federal Market Rent (FMR) to the local market rent and considering the median home value. In fiscal year 2024, the FMR stands at $1410, which is notably higher than the market rent of $975. This discrepancy suggests a potential for higher rental yields if properties can be leased out at rates closer to the FMR. The median home value of $72,503 further supports this analysis, indicating that properties in this area are relatively affordable, thus potentially allowing for positive cash flow even when renting at market rates.
On the axis of stability, the ZIP code reveals a mixed picture. With 25.8% of residents being renters, there is a modest demand for rental housing. However, the lack of data on days on market (DOM) and the average income of $46,429 provide incomplete insights into the overall stability of the rental market. The income figure, while lower than the national average, still allows for a significant portion of the population to afford the market rent, assuming typical rental-to-income ratios.
Given these factors, ZIP code 15466 leans towards being a steady-cashflow zone. While it offers opportunities for higher yields due to the disparity between FMR and market rent, the relatively low percentage of renters and the absence of DOM data indicate less volatility compared to high-yield/low-stability markets often associated with rapid turnover and flipping strategies. The modest rental demand, coupled with the affordability of homes, supports a scenario where long-term rentals can provide consistent returns, making it suitable for landlords and small-portfolio investors looking for reliable income streams.
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.