Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| 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 |
U.S. Census Bureau data (2024)
The ZIP code 15680 presents a market in motion, characterized by specific rental dynamics that are crucial for landlords and small-portfolio investors. The Fair Market Rent (FMR) for the area is set at $870 for the fiscal year 2024, indicating a stable baseline for rental pricing. While the exact market rent is currently unavailable, the FMR serves as a reliable indicator of what tenants can expect to pay.
A key insight into the rental market comes from the 4.2% renter share statistic. This relatively low percentage suggests that the majority of residents in ZIP 15680 own their homes, which can imply long-term housing stability and potentially less pressure on rental prices. However, it also means that any increase in the number of renters could significantly impact the local rental market, creating a scenario where demand might rise more rapidly than supply.
The lack of data on price-cut share and days on market (DOM) makes it challenging to pinpoint whether supply currently outpaces demand or vice versa. Nonetheless, the absence of these metrics often points towards a balanced market where neither side is overwhelmingly dominant. For landlords, this implies a need to maintain competitive rents to attract and retain tenants, while also being mindful of the potential for increased competition if more rental units enter the market.
In summary, ZIP 15680 offers a market with a defined rental floor through the FMR, a predominantly owner-occupied community, and an environment where small changes in the renter population could have a significant impact on the rental market dynamics. Landlords and investors must stay informed about local trends and be prepared to adapt their strategies accordingly.
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.