Location: Somerset County, PA | Metro: Bedford County, PA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 15550 in the metro area for fiscal year 2026 is set at $970. This figure represents the payment standard for Section 8 rentals, meaning that if you own a property in this area and decide to participate in the Section 8 program, the government will pay up to $970 per month towards the rent for eligible tenants. However, it's important to note that this does not mean your tenant will pay $970; it's the maximum amount the government will contribute.
To put this into perspective, the average rent in ZIP 15550, according to Census ACS data, is $867. This suggests that the FMR is slightly above the local average, which can be beneficial for landlords who might otherwise struggle to cover expenses with lower rents.
In ZIP 15550, 21.3% of residents are renters. This indicates a steady demand for rental properties, particularly those affordable under the Section 8 program. Given the FMR and the local average rent, there should be a reasonable pool of potential tenants who qualify for the assistance and would be interested in renting your property.
If you're considering purchasing a property in this ZIP code for a Section 8 rental, the median home value is around $206,737. This figure helps you understand the acquisition cost of a typical property in the area, allowing you to calculate potential returns and determine if the investment aligns with your financial goals.
Before proceeding with a Section 8 rental in ZIP 15550, verify that your property meets the housing quality standards required by the program. These standards ensure that the rental unit is safe and habitable, and failure to meet them can result in reduced payments or even termination from the program.
In summary, the $970 FMR provides a solid income floor for Section 8 rentals, slightly exceeding the local average of $867. With 21.3% of residents as renters, there is a reliable demand for affordable housing. At an acquisition cost of about $206,737, investing in a Section 8 rental can be a sound decision, but make sure your property complies with the necessary quality standards.
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.