Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $900 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
U.S. Census Bureau data (2024)
To determine if you should buy in ZIP code 15655 for Section 8 purposes, follow this decision tree:
Step 1: Debt Service Coverage Ratio (DSCR)
The Fair Market Rent (FMR) for ZIP 15655 in fiscal year 2024 is $930. Calculate if this amount clears the debt service on a property valued at $204,185. The DSCR is the ratio of the net operating income to the total debt service. For a typical mortgage, calculate the monthly payment and compare it to the FMR. If the FMR of $930 is sufficient to cover the mortgage and other expenses, proceed to Step 2. Otherwise, the answer is No.
Step 2: Market Rent vs. FMR
The current market rent is listed as N/A, which means there's insufficient data to make a direct comparison to the FMR of $930. Without this information, it's impossible to determine if the market rent is above, at, or below the FMR. If you can obtain accurate market rent data, compare it to the FMR. If market rent is above the FMR, it suggests strong demand but limited suitability for Section 8. If it's at or below the FMR, it indicates that the area is well-suited for Section 8 tenants. If the market rent remains unknown, the answer is It Depends.
Step 3: Tenant Demand
In ZIP 15655, 34.5% of residents are renters, and the Days on Market (DOM) is listed as N/A, indicating incomplete data. However, the rental percentage alone suggests moderate demand. If the DOM were available and relatively low, say under 30 days, this would indicate high demand and a good opportunity for Section 8 properties. With the DOM being unknown, the demand assessment is inconclusive. Therefore, the answer is It Depends. To make a final decision, gather additional data on the DOM and market rent.
If all conditions are met—FMR covers debt service, market rent is at or below FMR, and DOM is sufficiently low—the answer is Yes. This ZIP code presents a viable investment opportunity for Section 8 properties. However, if any condition is not satisfied, further investigation is required before making an investment decision.
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.