Location: Johnstown, PA | Metro: Johnstown, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
U.S. Census Bureau data (2024)
The dynamics of ZIP 15775 present a unique snapshot of a market in motion. With a Fair Market Rent (FMR) of $850 for the fiscal year 2024, the area stands at a pivotal point where affordability meets the realities of the local rental market. The absence of reported market rent figures suggests a scarcity of recent data, which could indicate either a lack of activity or a rapidly evolving market that hasn't been fully captured yet.
The 0.0% renter share statistic is particularly noteworthy. This figure implies that virtually all residents in ZIP 15775 are homeowners, suggesting a stable, possibly affluent community where long-term housing pressures are minimal. However, it also points to a potential limitation in the rental market's ability to respond to changes in demand. If there is an influx of new residents seeking rental properties, the limited supply could quickly lead to increased competition and higher rents, assuming the trend towards homeownership doesn't change.
While the median home value and days on market (DOM) are currently unavailable, these missing pieces highlight the importance of monitoring these metrics closely. A low DOM would suggest strong buyer interest, potentially indicating a market where demand outpaces supply. Conversely, a high DOM might signal a slower market, where supply exceeds demand. Understanding these dynamics is crucial for landlords and small-portfolio investors looking to navigate the real estate landscape of ZIP 15775 effectively.
In conclusion, ZIP 15775 operates under a framework where homeownership is dominant, and the rental market is less defined. The FMR serves as a baseline for rental pricing, but the true picture of supply and demand requires a closer look at the emerging trends in both rental and home sales markets. For investors, this means keeping a watchful eye on any shifts in the data that could signal changes in the balance between supply and demand.
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.