Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $970 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,600 |
| 4 Bedrooms | $1,730 |
| 5 Bedrooms | $2,007 |
| 6 Bedrooms | $2,248 |
| 7 Bedrooms | $2,428 |
| 8 Bedrooms | $2,549 |
U.S. Census Bureau data (2024)
The ZIP code 15675 in the Pittsburgh, PA HUD Metro FMR Area is best suited as a cash-flow anchor within a Section 8 portfolio strategy. The Fair Market Rent (FMR) for ZIP 15675 in fiscal year 2024 is set at $1100, which is significantly higher than the current market rent of $917. This creates a positive spread of $183 per unit, ensuring that landlords receive more income than the market average when participating in the Section 8 program.
Moreover, the median home value in this area stands at $127,024, indicating that it is a relatively affordable region for both homeowners and renters. This affordability factor contributes to the stability of the cash flow generated by Section 8 properties, as the likelihood of tenant turnover due to financial strain is reduced.
ZIP 15675 does not present significant opportunities as an appreciation play, given the lack of data on price-cut shares and days on market (DOM). However, the ZIP code does serve well as a diversifier within a larger portfolio. With a 12.5% renter share, there is a notable portion of the population relying on rental housing, which supports consistent demand for rental units. Additionally, the median income of $76,406 suggests that tenants can reasonably afford their portion of the rent, further stabilizing the cash flow.
In conclusion, ZIP 15675 should be considered a cash-flow anchor due to the favorable spread between the HUD FMR and the market rent, coupled with a stable tenant base supported by the median income levels. Landlords and small-portfolio investors can leverage this to ensure steady and predictable income streams from their Section 8 properties in this area.
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.