Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,560 |
| 5 Bedrooms | $1,810 |
| 6 Bedrooms | $2,027 |
| 7 Bedrooms | $2,189 |
| 8 Bedrooms | $2,298 |
U.S. Census Bureau data (2024)
The rental landscape in ZIP code 15695 is quite unique, given the limited data available. The median household income stands at $44,167. This figure is crucial when considering the financial capabilities of potential tenants.
Unfortunately, the market rate for rentals in this area is currently unavailable, which makes it challenging to assess how well residents can afford typical housing costs. However, we do have information on the Federal Market Rate (FMR), which is set at $990 for the fiscal year 2024. This FMR represents the average monthly payment that Section 8 vouchers can cover in the area.
Given the low number of renters—only 0.0% of the 181 total population—it's evident that there is a significant affordability gap. Few residents are likely to be in a position to pay market rates without assistance, indicating a competitive environment for landlords who rely solely on cash-paying tenants.
The takeaway for landlords considering their strategy is clear: focusing on accepting Section 8 vouchers could provide a more stable income source. While voucher payments might be slightly lower than market rates, the scarcity of cash-paying tenants means that landlords who accept vouchers are more likely to fill vacancies and maintain steady cash flow. This approach aligns with the financial reality of the area, where the median income is insufficient to cover unknown market rates without government subsidy.
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.