Location: Jefferson County, PA | Metro: Clearfield County, PA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 15851 within the Jefferson County, PA metro area reveals several key insights for landlords and small-portfolio investors.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for the area is set at $970 for fiscal year 2026, while the current market rent, according to Census ACS data, stands at $634. This indicates that the rent math does not currently work in favor of landlords. The gap between the FMR and the actual market rent suggests that landlords would need to either lower their expectations or improve the quality of their properties to justify higher rents.
Regarding the affordability of acquisition, the median home value in ZIP 15851 is $114,929. However, the lack of data on days on market (DOM) and the low percentage of homes requiring price cuts (0.2%) imply that the housing market is relatively stable but offers limited opportunities for bargain acquisitions. Landlords should be prepared to pay close to the median value for properties in this area.
Tenant demand is another critical factor. With a total population of 7,059, 22.1% of residents are renters. This translates to approximately 1,559 renters in the area. While the number of potential tenants is not exceptionally high, it does provide a steady demand for rental properties. However, landlords must consider the competition and the overall economic situation of the zip code when setting rents and expectations for occupancy rates.
Verdict: ZIP 15851 presents a mixed picture for real estate investment. The rent math does not currently support the expected returns based on FMR, indicating a need for strategic pricing or property improvements. Acquisition costs are reasonable, given the median home value, but the limited data on market dynamics suggest a stable rather than a rapidly growing market. Tenant demand exists but is moderate, which means landlords will have to compete effectively to attract and retain renters. Overall, the area may offer a safe but not highly lucrative investment opportunity for those willing to manage their expectations and focus on long-term stability over short-term gains.
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.