Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $960 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,590 |
| 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 rent math in ZIP code 15689, part of the Pittsburgh, PA HUD Metro FMR area, does not align favorably. The Fair Market Rent (FMR) set at $990 for the fiscal year 2024 is the benchmark figure. However, the lack of specific market rent data means we cannot directly compare it to actual rental rates in the area, which could be higher or lower depending on local conditions.
Regarding property acquisition, the situation is unclear due to missing data points. The median home value, days on market (DOM), and percentage of homes requiring price cuts are all listed as N/A. This absence of information makes it challenging to assess whether purchasing properties in this ZIP code would be financially viable for landlords and small-portfolio investors.
Tenant demand in ZIP 15689 is strong. With a total population of 92 and a renter share of 52.5%, there is a significant portion of the population actively seeking rental housing. This high demand suggests that once a property is rented out, maintaining occupancy should be relatively straightforward.
Verdict: Despite strong tenant demand, the lack of detailed market data hinders a comprehensive analysis of the financial viability of acquiring and renting out properties in ZIP 15689. Landlords and small-portfolio investors should seek additional local market insights before making investment decisions. The Fair Market Rent of $990 is a critical figure but needs to be contextualized against current market rents and property acquisition costs to determine profitability.
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.