Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
U.S. Census Bureau data (2024)
The ZIP code 15674 presents a dynamic rental market, driven by a significant share of renters at 19.4%. This percentage indicates a persistent long-term housing pressure, suggesting that a notable portion of the population opts for renting over homeownership. The Fair Market Rent (FMR) stands at $1010 for the fiscal year 2024, which sets a benchmark for rental pricing in the area.
While specific data on market rent, price-cut share, days on market (DOM), and median home value are not available, the high renter share implies that there could be a steady demand for rental properties. Landlords and small-portfolio investors should take note of the FMR as it reflects the affordability threshold for many tenants in this ZIP code.
The absence of recent market rent figures might suggest that the local rental market has not been extensively studied or updated recently. However, the FMR can serve as a reliable indicator for setting rents, ensuring they remain competitive and attractive to potential tenants without being too far below the government's assessed fair market value.
In a market where 19.4% of residents are renters, landlords have an opportunity to cater to a substantial segment of the population. This high renter share could mean that the ZIP code experiences continuous rental demand, which is beneficial for those looking to maintain occupancy rates and generate consistent cash flow.
The dynamics of ZIP 15674 reveal a market that is likely balanced but leaning towards demand, given the significant renter share. Landlords should focus on maintaining their properties to meet tenant expectations and ensure compliance with local regulations, especially concerning rent levels relative to the FMR.
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.