Location: Jefferson County, PA | Metro: Clearfield County, PA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,580 |
| 4 Bedrooms | $1,740 |
| 5 Bedrooms | $2,018 |
| 6 Bedrooms | $2,260 |
| 7 Bedrooms | $2,441 |
| 8 Bedrooms | $2,563 |
U.S. Census Bureau data (2024)
30.9% of residents in ZIP code 15840 are renters, indicating a significant demand for rental properties. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,150, which is notably higher than the reported market rent of $963 based on Census ACS data. This discrepancy suggests that landlords could potentially increase their rents to align with the FMR without losing tenants.
$132,133 is the median home value in the area, reflecting a moderate housing market. Coupled with a median income of $57,344, it becomes evident that many residents might struggle to afford homeownership, further solidifying the importance of rental properties in the local real estate landscape.
The lack of data on days on market (DOM) and the percentage of price-cut shares implies stability in the rental market. Tenants are likely finding suitable accommodations quickly, and landlords are maintaining steady occupancy rates without needing to reduce rent significantly.
Investors should note that the FMR of $1,150 provides a benchmark for rental pricing. Given the lower market rent of $963, there is room for growth, especially if landlords can offer well-maintained properties that appeal to tenants seeking quality living conditions.
In conclusion, with 30.9% of the population renting and a median income of $57,344, the demand for rental properties is robust. The opportunity to leverage the higher FMR of $1,150 against the current market rent of $963 presents a favorable environment for landlords and small-portfolio investors. The Section 8 program, with its set payment standards, remains a viable option for ensuring steady cash flow and occupancy in ZIP code 15840.
Verdict: ZIP 15840 is a good fit for Section 8 investments, given the strong tenant demand and potential for rental rate increases.
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.