Section 8 Fair Market Rent (FMR) for ZIP 15479 - 2027

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$940
1 Bedroom	$1,000
2 Bedrooms	$1,210
3 Bedrooms	$1,540
4 Bedrooms	$1,680
5 Bedrooms	$1,949
6 Bedrooms	$2,183
7 Bedrooms	$2,358
8 Bedrooms	$2,476

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Based on the provided data, ZIP 15479 within the Pittsburgh, PA HUD Metro FMR Area can be best described as a cash-flow anchor in a Section 8 portfolio strategy. The Fair Market Rent (FMR) for FY 2024 is set at $1,040, which is notably higher than the current market rent of $898. This spread indicates that landlords participating in the Section 8 program in this ZIP code will receive higher rents compared to the local market rates, thus providing a stable and reliable source of income.

The median home value in ZIP 15479 is $142,273, which suggests a relatively affordable housing market. However, the focus here is on rental properties, and the higher FMR compared to the market rent ensures that landlords can maintain steady cash flow without being overly reliant on the volatile local market conditions.

While the appreciation potential is limited due to the lack of specific data on price-cut shares and days on market (DOM), the significant renter share of 30.2% and median income of $63,852 indicate a strong demand for rental housing in this area. Landlords can benefit from the consistent demand and the guaranteed rent payments through the Section 8 program.

In conclusion, ZIP 15479 serves as a cash-flow anchor within a Section 8 portfolio strategy. With the $1,040 FMR exceeding the $898 market rent, landlords can expect a dependable revenue stream, mitigating risks associated with fluctuating local rental prices. This stability is particularly valuable in a diversified investment portfolio, ensuring a solid foundation for cash flow and property management.

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.