Location: Somerset County, PA | Metro: Somerset County, PA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
U.S. Census Bureau data (2024)
The ZIP code 15502 presents an interesting scenario for landlords and small-portfolio investors looking to attract Section 8 tenants. With a population of 113, only 14.9% of residents are renters, indicating that this is primarily a homeowner-dominated area. This suggests that the demand for rental properties using vouchers, such as those provided through the Section 8 program, will be relatively low.
Given the median household income of $80,694, it's important to note that there is no specific data provided on the average market rent for this area. However, we can compare the median income to the Fair Market Rent (FMR) figure of $970, which is the amount set by HUD for the metro area for fiscal year 2026. Assuming a typical renter spends around 30% of their income on housing, the average market rent would consume approximately 3.7% of the median household income. This indicates that rental costs are likely affordable for most residents, even without the assistance of vouchers.
A landlord in ZIP 15502 should expect a tenant profile that reflects the broader economic conditions of the area. Tenants are likely to have stable incomes, given the high median household income, but the number of potential Section 8 tenants will be limited due to the low percentage of renters. The typical tenant will be someone who values the affordability of renting in a high-income area, possibly young professionals or families looking for temporary housing solutions.
To conclude, while the ZIP code offers a stable economic environment with potentially low vacancy rates, the reliance on Section 8 vouchers as a primary source of tenants is not advisable. Landlords should focus on attracting tenants who can afford market rates, as the voucher demand is expected to be low in this area.
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.