Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $940 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,690 |
| 5 Bedrooms | $1,960 |
| 6 Bedrooms | $2,195 |
| 7 Bedrooms | $2,371 |
| 8 Bedrooms | $2,490 |
U.S. Census Bureau data (2024)
25.7% of residents in ZIP code 15696 are renters, indicating a significant portion of the population relies on rental housing. This statistic aligns with the $960 Fair Market Rent (FMR) set for zip code 15696 for fiscal year 2024, which is higher than the $875 average market rent reported by the Census Bureau's American Community Survey (ACS), suggesting potential demand for subsidized housing options. The median income of $65,250 in the area provides context for the affordability challenges faced by many tenants. While the median home value is not available, it does not impact the rental analysis directly. However, the lack of data on days on market (DOM) and the percentage of listings that required price cuts points to a stable market without significant fluctuations in pricing or prolonged vacancy periods. Landlords and small-portfolio investors should take note of these figures as they reflect a balance between market conditions and the need for affordable housing. With the FMR being notably higher than the market rent, there is an opportunity for those who can offer units at or below the FMR to attract tenants through the Section 8 program. The verdict for Section 8 participation in ZIP 15696 is positive, given the alignment between the FMR and tenant needs.
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.