Section 8 Fair Market Rent (FMR) for ZIP 15473 - 2027

Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area

Investment Score for ZIP 15473

Monthly Rent (2BR)

$1,020

Median Price (2BR)

$134,572

1% Rule

0.76%

Annual Yield

9.1%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

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	$1,410
5 Bedrooms	$1,636
6 Bedrooms	$1,832
7 Bedrooms	$1,979
8 Bedrooms	$2,078

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,020	$134,572	0.76%	D
3BR	$1,300	$221,026	0.59%	F
4BR	$1,410	$239,745	0.59%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

3,422

Median Household Income

$69,438

Housing Units

1,647

Renter Percentage

12.3%

Occupancy Rate

93.0%

Renter Occupied

189

Perryopolis, PA, located in ZIP code 15473, is a small community that offers opportunities for real estate investment, particularly in the rental sector. The area's affordability and manageable property values make it attractive for both landlords and small-portfolio investors looking to enter or expand their holdings.

The Fair Market Rent (FMR) for ZIP 15473 in fiscal year 2024 is set at $890, providing a benchmark for rental pricing in the region.
According to the latest Census American Community Survey (ACS), the average market rent in Perryopolis stands at $783, indicating a slight discount compared to the FMR.
The median home value in the area is $185,126, which is relatively low and suggests that property acquisition can be done at a reasonable cost.
Renters represent 12.3% of the housing market, showing a smaller but still significant portion of the population that relies on rental properties.
The median household income in Perryopolis is $69,438, which provides insight into the financial capacity of potential tenants.

Investors should consider the gap between the FMR and the actual market rent as an opportunity to potentially increase rental income without pricing out the local tenant base. The lower median home value also indicates a less competitive market for property purchases, allowing for easier entry. However, the relatively low renter share implies a smaller pool of potential tenants, which could affect occupancy rates. The median income figure supports the idea that most residents can afford the current rent levels, but it also highlights the need for well-managed properties to attract and retain tenants. Overall, Perryopolis presents a balanced market where careful selection of properties and strategic management can yield positive returns.

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.