Location: Elk County, PA | Metro: Elk 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 | $780 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,390 | $92,351 | 1.51% | A+ |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP 15827 is set at $1,000 for FY 2026, which is a key figure for determining rental subsidies under the Section 8 program. Given that the median home value in the area is $83,714, the FMR suggests that the rental market is relatively stable and affordable. However, the lack of data on the percentage of renters and the days on market (DOM) for properties indicates a limited supply of rental units, which could affect both yield and stability.
The median household income in ZIP 15827 is $83,125, which is above the national average and suggests a stable economic base. This higher income level supports the potential for steady cash flow from tenants who are likely to have a consistent ability to pay their rent, even if it is subsidized.
Despite the median home value being relatively low, the high median income implies that there might be a mix of property types and values within the ZIP code. Landlords and small-portfolio investors should focus on properties that align with the $1,000 FMR to maximize their chances of securing Section 8 tenants. The absence of specific data on the percentage of renters and DOM makes it challenging to classify the market strictly as high-yield/low-stability or steady-cashflow. However, given the $83,125 median income and the affordability suggested by the FMR, ZIP 15827 leans towards a steady-cashflow zone rather than a high-risk, high-reward scenario.
To further refine investment strategies, it would be beneficial to gather more detailed local market data, including the percentage of renters and DOM figures. These metrics would provide a clearer picture of the demand for rental properties and the speed at which they are typically leased, thus helping to better assess the yield and stability of the market.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.