Location: Indiana County, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,320 | $183,292 | 0.72% | D |
U.S. Census Bureau data (2024)
ZIP 15618, located in Indiana County, PA metro, serves as a strong cash-flow anchor within a Section 8 portfolio strategy. The Federal Market Rent (FMR) for ZIP 15618 in fiscal year 2024 is set at $870, which is significantly higher than the market rent of $772. This $98 spread ensures that landlords receive a rental income above the local market rate, enhancing cash flow stability.
The median home value in ZIP 15618 is $142,514, indicating a relatively affordable housing market. However, the primary focus for a Section 8 investment in this area should be on the guaranteed rental income. The higher FMR compared to the market rent provides a reliable source of income, making it an attractive option for landlords seeking consistent cash flow.
ZIP 15618 does not present itself as an appreciation play due to the lack of significant price-cut shares or days on market (DOM) trends. The median income in the area is $61,579, and the renter share stands at 17.5%, suggesting a moderate demand for rentals without the potential for rapid property value increases.
In conclusion, ZIP 15618 is best positioned as a cash-flow anchor in a Section 8 portfolio strategy. Landlords can expect a steady stream of rental income that exceeds the local market average, thereby securing financial stability. The area's affordable housing market and moderate renter share complement this role, offering a balanced approach to real estate investment without the speculative nature of appreciation plays.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.