Location: Johnstown, PA | Metro: Johnstown, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $920 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
U.S. Census Bureau data (2024)
To integrate ZIP 15760 into a Section 8 portfolio strategy, one must consider its unique characteristics. This ZIP code, located within the Johnstown, PA MSA, does not fit neatly into the typical categories of cash-flow anchor, appreciation play, or diversifier due to the lack of specific market data such as median home value and market rental rates. However, based on the available data, ZIP 15760 can be viewed as a cash-flow anchor.
The justification for this classification stems from the fact that the Fair Market Rent (FMR) for a four-bedroom unit in ZIP 15760 for fiscal year 2024 is set at $850. This figure represents a guaranteed minimum rental income for properties participating in the Section 8 program, which can serve as a stable source of cash flow for landlords and small-portfolio investors.
While the market rental rate is not specified, the absence of competitive market rates suggests that the FMR of $850 might be close to or even above the actual market rate. This scenario would mean that properties in ZIP 15760 could generate steady cash flow without the need to compete on price, making it an ideal anchor for a Section 8 portfolio.
The median income of $80,938 indicates a moderate economic base, supporting the notion that the FMR is likely reflective of the local rental market's equilibrium. With a low renter share of 0.0%, there is minimal competition from non-subsidized rentals, further stabilizing the cash flow potential.
In conclusion, ZIP 15760 serves best as a cash-flow anchor within a Section 8 portfolio strategy, given the guaranteed rental income of $850 and the lack of significant market competition.
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.