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 | $960 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,580 |
| 4 Bedrooms | $1,720 |
| 5 Bedrooms | $1,995 |
| 6 Bedrooms | $2,234 |
| 7 Bedrooms | $2,413 |
| 8 Bedrooms | $2,534 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,240 | $43,136 | 2.87% | A+ |
U.S. Census Bureau data (2024)
ZIP code 15475, located in Republic, PA, falls within the larger Pittsburgh, PA HUD Metro FMR Area. To contextualize its figures, we must compare them to the broader metro area. The Fair Market Rent (FMR) for ZIP 15475 is set at $930 for fiscal year 2024, which is notably lower than the market rent of $1,138. This suggests that while government-assisted rents are capped at $930, the actual market demands a higher rate, indicating a potential gap where landlords can charge above the FMR but still attract tenants who are willing to pay the market price.
The median home value in ZIP 15475 stands at $50,235, which is significantly below the average home values typically found in the Pittsburgh metropolitan area. This low home value, combined with a substantial 44.0% renter share, points towards an area that could be particularly attractive for Section 8 landlords. High renter share percentages suggest a strong demand for rental properties, and lower home values imply that the area might be less desirable for homeownership, pushing more individuals towards renting.
In comparing these figures to the typical ZIP codes within the Pittsburgh, PA HUD Metro FMR Area, ZIP 15475 appears to be a value pocket. The discrepancy between the FMR and market rent, along with the high renter share and low home values, indicates that it offers opportunities for landlords who are willing to participate in the Section 8 program. Such areas are often characterized by their affordability and the concentration of renters, making them ideal for maximizing returns through government subsidies without sacrificing occupancy rates.
To further validate this inference, one should consider additional factors such as job availability, public transportation access, and local amenities. However, based on the provided data, ZIP 15475 presents itself as a viable option for landlords seeking to capitalize on the Section 8 program within a broader competitive market environment.
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.