Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $910 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,620 |
| 5 Bedrooms | $1,879 |
| 6 Bedrooms | $2,104 |
| 7 Bedrooms | $2,272 |
| 8 Bedrooms | $2,386 |
U.S. Census Bureau data (2024)
The ZIP code 15646 represents a small community with a total population of 161 residents. Within this community, 15.8% of the residents are renters, indicating a relatively low demand for rental properties. The median income and median home value data are not available, which suggests that there might be limited economic diversity or a lack of comprehensive data for this area.
Moving into the specifics of rent economics, the Fair Market Rent (FMR) for ZIP 15646 is set at $1010 for fiscal year 2024. This figure serves as a benchmark for rental pricing in the area, especially for those participating in the Section 8 housing program. However, the market rent for the area is also not specified, making it challenging to compare the FMR against actual market conditions. This absence of market rent data could imply either a stable rental market or a lack of significant rental activity within the ZIP code.
Given the limited population and the low percentage of renters, ZIP 15646 may not be an ideal location for a hands-off voucher operator. The small number of potential tenants and the lack of detailed economic indicators suggest that managing properties in this area would require a more hands-on approach. For a value-add buyer, the opportunity to improve and manage a few rental units could be viable if they are willing to engage closely with the local market and tenant needs. Such an investor would need to consider the potential for rental growth and the challenges associated with a small rental pool.
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.