Section 8 Fair Market Rent (FMR) for ZIP 15747 - 2027

Location: Indiana County, PA | Metro: Indiana County, PA

Investment Score for ZIP 15747

Monthly Rent (2BR)

$1,010

Median Price (2BR)

$162,045

1% Rule

0.62%

Annual Yield

7.48%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$740
1 Bedroom	$860
2 Bedrooms	$1,010
3 Bedrooms	$1,410
4 Bedrooms	$1,530
5 Bedrooms	$1,775
6 Bedrooms	$1,988
7 Bedrooms	$2,147
8 Bedrooms	$2,254

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,010	$162,045	0.62%	D
3BR	$1,410	$215,397	0.65%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,641

Median Household Income

$54,938

Housing Units

716

Renter Percentage

10.3%

Occupancy Rate

87.8%

Renter Occupied

If a landlord is considering purchasing a property in ZIP code 15747 (Home, PA) for Section 8 purposes, they must evaluate several factors based on the given data.

Step 1: Can the Fair Market Rent (FMR) of $970 cover the debt service on a $194,180 property?

No: The FMR of $970 does not sufficiently cover the debt service for a property valued at $194,180. Debt service typically includes mortgage payments, property taxes, insurance, and maintenance costs. At this price point, the landlord would likely face financial strain unless other income sources or cost reductions can be identified.

Step 2: How does the market rent of $569 compare to the FMR?

Below FMR: The market rent of $569 is below the FMR of $970. This indicates that the local rental market is less expensive than what the government deems as fair for Section 8 purposes. Landlords might find it challenging to lease properties at the higher FMR rate if the market rent is significantly lower.

Step 3: Is there enough demand with 10.3% renters and an unknown number of days on the market (DOM)?

It Depends: With 10.3% of the population renting, there is some demand, but the lack of data on the average days on the market makes it difficult to assess the competition and how quickly properties are being leased. This uncertainty means that while there is a baseline of demand, the specifics are unclear without further investigation into DOM trends and competition levels.

Based on these considerations, a landlord interested in ZIP 15747 for Section 8 should proceed with caution. The FMR does not adequately support the debt service on a $194,180 property, and the market rent is lower than the FMR. Additionally, the demand is present but the exact level of competition remains unknown due to missing DOM data.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.