Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
U.S. Census Bureau data (2024)
The ZIP code 15476, located within the Pittsburgh, PA HUD Metro FMR Area, has a Fair Market Rent (FMR) of $940 for fiscal year 2024. This figure is lower than the typical FMR for ZIP codes within the larger Pittsburgh metro area, which generally exceeds $1,280 per month for a two-bedroom unit according to recent HUD data.
The lack of available market rent and home value data for ZIP 15476 suggests that it may be less developed or have fewer real estate transactions compared to other areas in the region. However, the 100.0% renter share is a significant indicator. In most typical ZIP codes within the Pittsburgh metro area, the renter share is usually much lower, often around 50-70%. The high percentage of renters in ZIP 15476 implies a strong demand for rental properties, which is beneficial for landlords and small-portfolio investors.
Given the below-average FMR and the high renter share, ZIP 15476 appears to be a value pocket within the Pittsburgh metro area. It offers an opportunity for investors who can provide affordable housing options that align with the FMR. Landlords should consider focusing on cost-effective management practices to ensure profitability in this area.
For context, the typical FMR for a two-bedroom apartment in the Pittsburgh metro area is higher at $1,280. This difference between the typical FMR and the FMR in ZIP 15476 suggests that this area is more affordable for tenants but also indicates that property values might be lower, which could affect long-term investment strategies.
In conclusion, ZIP 15476 is a value pocket within the Pittsburgh metro area due to its lower FMR and high renter share. While the exact market rent and home values are not available, the data suggests a strong rental market that could benefit from additional affordable housing units.
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.