Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,480 |
| 5 Bedrooms | $1,717 |
| 6 Bedrooms | $1,923 |
| 7 Bedrooms | $2,077 |
| 8 Bedrooms | $2,181 |
U.S. Census Bureau data (2024)
920 is the Fair Market Rent (FMR) for ZIP code 15779 as of fiscal year 2024, setting a clear benchmark for rental pricing in the area. 92,250 represents the median household income in the same ZIP code, indicating a relatively strong economic base that supports higher rents. 0.0% is the reported renter share in ZIP 15779, suggesting that homeownership is predominant and rental properties might face stiff competition. However, given the N/A status for both market rent and median home value, it's challenging to compare these figures directly with actual local real estate trends. The lack of data on days on market (DOM) and the percentage of price-cut shares further complicates a detailed analysis of property turnover and pricing adjustments. Despite these limitations, the high median income suggests that tenants participating in the Section 8 program could still afford the 920 FMR, especially if they receive subsidies covering a significant portion of their rent. This makes Section 8 participation a viable option for landlords in 15779, despite the low renter population. The strong economic indicators support the stability of rental income, which is crucial for small-portfolio investors looking for consistent returns.
920 FMR also implies that landlords can set competitive rents without drastically undercutting the market, assuming that the local rental market aligns with the FMR. 92,250 median income provides a context for potential tenant affordability, indicating that residents have the financial capacity to contribute a substantial portion of the rent. While the exact market conditions remain unclear due to missing data points, the economic strength of the area suggests that landlords who offer well-maintained properties at or near the 920 FMR will likely attract stable, Section 8 eligible tenants.
Section 8 Verdict: Acceptable for landlords with a focus on long-term, stable rentals in ZIP 15779.
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.