Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
U.S. Census Bureau data (2024)
The ZIP code 15484 stands out due to its unique demographic and economic characteristics. With only 792 residents, it is among the smallest ZIP codes in terms of population size. Despite this, the percentage of residents renting their homes is relatively low at 4.3%, indicating a predominantly owner-occupied housing market. The median income for residents in ZIP 15484 is $98,579, which is significantly higher than the national average, suggesting a prosperous community. However, the lack of data on the median home value presents a gap in understanding the full picture of the housing market dynamics in this area.
Moving to the specifics of Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 15484 in fiscal year 2024 is set at $950. This figure is crucial for landlords and small-portfolio investors as it represents the maximum amount that can be charged for a rental unit under the Section 8 program. Unfortunately, the absence of market rent data for comparison makes it challenging to assess how competitive the FMR is relative to the actual rental rates in the area.
Given the limited data available, the overall stability of ZIP 15484's housing market can be described as transitional. The high median income suggests a stable economy, but the low rental rate and missing median home value data indicate an evolving market where more information would be beneficial for making informed investment decisions. Landlords should closely monitor local rental trends and consider the potential impact of the low FMR on attracting tenants who rely on Section 8 vouchers.
Note: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.