Location: Elk County, PA | Metro: Cameron County, PA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
U.S. Census Bureau data (2024)
The real estate market in ZIP code 15832 presents a unique set of conditions that landlords and small-portfolio investors should consider. The median home value is currently not available, which suggests limited data for precise valuation insights. However, the fact that a significant percentage of listings have been reduced, along with a median days on market (DOM) figure that is also not specified, indicates a trend towards buyer's market dynamics. This combination signals that sellers may need to be more flexible with their pricing, potentially reducing their pricing power over the next 12-24 months.
On the rental side, the Fair Market Rent (FMR) for ZIP 15832 stands at $1,030 for fiscal year 2026, while the current market rent is estimated at $731 according to Census ACS data. This gap highlights a potential opportunity for landlords who can leverage the higher FMR to adjust their rental rates upwards, assuming they can maintain occupancy levels. The disparity between the two figures suggests that there might be room for growth in rental income, especially if the market rent converges towards the FMR over time.
For long-term investors, the setup implies a cautious approach to appreciation expectations. Given the lack of specific median home value and the percentage of reduced listings, it is challenging to project strong appreciation. However, the potential for rental rate increases could provide a steady stream of income, making it a viable strategy for those focused on cash flow rather than rapid property value appreciation. The data does not support an aggressive thesis on capital appreciation but rather points towards a stable, albeit modest, growth scenario.
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.