Section 8 Fair Market Rent (FMR) for ZIP 15784 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

To determine if a landlord should invest in ZIP code 15784 for Section 8 properties, follow this decision tree:

• 1) Does FMR $1,030 (metro FY 2026) cover the debt service on a property?
  • If the answer is yes, then proceed to the next question. This indicates that the Fair Market Rent (FMR) is sufficient to meet the financial obligations associated with owning a property.
  • If the answer is no, then purchasing a property in ZIP 15784 for Section 8 purposes would not be financially viable, as the rental income would not be enough to cover the costs.
• 2) Is the market rent above, at, or below the FMR of $1,030?
  • If market rent is above FMR, then it suggests that there is room for non-Section 8 tenants who can pay higher rents. This could be a positive sign for landlords interested in diversifying their tenant base.
  • If market rent is at FMR, then landlords can expect to attract Section 8 tenants but will likely not have much flexibility in setting higher rents. This scenario might still be viable depending on the demand for Section 8 housing.
  • If market rent is below FMR, then landlords might struggle to find non-Section 8 tenants willing to pay the lower market rates, making the FMR rate critical for covering expenses.
• 3) Are 10.0% of residents renters and does an average of N/A days on the market indicate sufficient demand?
  • If the percentage of renters is high and the days on the market are low, indicating strong demand, then the answer is yes. A robust rental market means that there is a good chance of finding tenants quickly, which is beneficial for landlords.
  • If the percentage of renters is low or the days on the market are high, suggesting weak demand, then the answer is no. In such a case, landlords may face challenges in renting out their properties, leading to potential vacancies and financial losses.
  • If the situation is somewhere in between, where the demand is moderate, then the answer is it depends. Landlords should consider other factors such as the cost of living, competition, and the specific needs of their investment strategy before deciding to purchase a property in ZIP 15784.

The decision to buy in ZIP 15784 for Section 8 should be made based on these criteria. If the FMR covers debt service, market rent aligns favorably with FMR, and there is sufficient demand, then the investment is likely to be successful. Otherwise, landlords should carefully weigh the risks involved.

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.