Location: Somerset County, PA | Metro: Somerset County, PA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,480 |
| 4 Bedrooms | $1,720 |
| 5 Bedrooms | $1,995 |
| 6 Bedrooms | $2,234 |
| 7 Bedrooms | $2,413 |
| 8 Bedrooms | $2,534 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 15520, as determined by the U.S. Department of Housing and Urban Development (HUD), is set at $970 for fiscal year 2026. This figure represents the payment standard for Section 8 housing vouchers in the metro area, meaning that voucher holders can receive assistance up to this amount. However, it's crucial to understand that this is not the actual rent you will charge your tenants; rather, it's the maximum subsidy that the government will provide.
In ZIP 15520, there is currently no local rent data available to compare against the FMR. This lack of specific local data might indicate a less competitive market or an underserved area where demand could be high for affordable housing options. The fact that the renter share is listed as 0.0% suggests that there is no portion of the population renting in this specific category, which could imply limited competition for Section 8 tenants.
When considering the acquisition cost of properties in this area, again, no specific data is available. However, the absence of local rent data and the low renter share percentage might suggest that property values could be relatively stable and potentially lower compared to more densely populated areas. This stability could be advantageous for new investors looking to enter the Section 8 rental market without facing volatile property costs.
Before deciding to become a Section 8 landlord in ZIP 15520, verify that your property meets HUD's Housing Quality Standards (HQS). These standards ensure that the rental unit is safe, decent, and sanitary, and they are essential for approval. Your investment should align with these criteria to avoid any complications in the future.
In summary, the $970 FMR for ZIP 15520 sets the ceiling for government subsidies, indicating a potential opportunity for landlords in an area with limited local rent data and a low renter share percentage. Ensure your property meets HQS to proceed smoothly into this investment opportunity.
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.