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 | $950 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,570 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,230 | $76,119 | 1.62% | A+ |
| 3BR | $1,570 | $107,860 | 1.46% | A |
U.S. Census Bureau data (2024)
ZIP code 15474 encompasses a part of Point Marion, PA, characterized by a modest population of 2,456 residents. The area reflects a blend of homeowners and renters, with 25.4% of the population being tenants. The median household income stands at $62,500, indicating a middle-class community. Median home values in the area are relatively low, at $92,697, which suggests an affordable housing market.
The economic landscape of renting in ZIP 15474 is defined by the gap between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2024, the FMR is set at $1,100, whereas the Census American Community Survey (ACS) reports the average market rent to be $963. This discrepancy presents an opportunity for landlords and investors, as the FMR can support higher rents for properties participating in the Section 8 program, potentially leading to better cash flows compared to market-rate rentals.
Given these conditions, ZIP 15474 would suit both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the area offers a stable income source through the Section 8 program, with rents covered up to $1,100. This ensures consistent cash flow without the need for active property management. On the other hand, for hands-on investors looking to improve their properties and benefit from the higher FMR, there is potential to add value and increase rental income beyond the current market rates. The combination of a manageable population size, a significant portion of renters, and an income level that aligns well with the FMR makes ZIP 15474 a viable investment target for those interested in Section 8 properties.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.