Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,480 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
U.S. Census Bureau data (2024)
The HUD Fair Market Rent (FMR) for ZIP code 15687 in the Pittsburgh, PA HUD Metro FMR Area for fiscal year 2024 is set at $890. This figure represents the maximum amount that voucher holders can pay towards their monthly rent, including utilities. However, without specific market rent data, it's challenging to provide a precise comparison. Nonetheless, we can infer that given the median home value of $180,109, the rental market might be competitive.
To understand the cash flow potential for Section 8 investors, we must consider the rent-to-price ratio. With a median home value of $180,109, if we assume a typical rent-to-price ratio of around 1%, the expected annual rent would be approximately $1,801. This translates to a monthly rent of about $150, significantly lower than the HUD FMR of $890. Therefore, voucher tenants would cash flow at the FMR rate, providing landlords with a positive financial outcome.
Given the lack of data on the days on market (DOM) and the percentage of price cuts, we cannot make specific conclusions on the buy-versus-rent dynamics. However, the positive cash flow scenario suggests that landlords can expect stable returns from their investments in this area. The absence of high DOM and frequent price cuts indicates a relatively strong demand for housing, which supports the stability of the rental market.
The strongest investor angle in ZIP 15687 is likely to be cash flow. Given the positive difference between the HUD FMR and the implied market rent based on home values, landlords can secure steady income streams from Section 8 tenants without the need for premium units. This makes the area attractive for those seeking reliable and consistent rental income.
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.