Location: Jefferson County, PA | Metro: Clearfield County, PA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,360 |
| 5 Bedrooms | $1,578 |
| 6 Bedrooms | $1,767 |
| 7 Bedrooms | $1,908 |
| 8 Bedrooms | $2,003 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,330 | $163,997 | 0.81% | C |
U.S. Census Bureau data (2024)
The median income in ZIP code 15823 stands at $51,125, which places significant constraints on the average household's ability to afford housing. The market rate for rent, according to the Census ACS, is $705 per month. This means that a household earning the median income would spend approximately 17.7% of their monthly income on rent alone, assuming they allocate the same percentage of their income towards housing costs as the national average.
In contrast, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $970. This figure represents the maximum amount that Section 8 vouchers will cover, leaving a substantial gap between the market rate and what households might be able to pay out-of-pocket. For landlords, this implies that relying solely on market rates could limit your tenant pool, especially if many potential tenants are unable to meet the $705 cost without assistance.
The ZIP code has a relatively low rental rate of 17.5%, indicating that most residents own their homes. With a total population of 1,266, the number of potential renters is even smaller, suggesting intense competition among landlords for the available rental market. The affordability gap between the median income and the market rent rate further exacerbates this competition, as it limits the pool of viable tenants who can afford the rents without financial aid.
The takeaway for landlords considering voucher versus cash-pay strategies is clear: accepting Section 8 vouchers can open up access to a broader tenant base. While vouchers cover only up to $970, which is higher than the market rate, they provide a stable and guaranteed income stream. Landlords should weigh the benefits of having a consistent, government-backed payment against the potential for higher market rents paid by cash-paying tenants, keeping in mind the limited number of such tenants in this ZIP code.
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.