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: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,060 | $126,984 | 0.83% | C |
| 3BR | $1,390 | $175,264 | 0.79% | D |
U.S. Census Bureau data (2024)
Weedville, PA, located in ZIP code 15868, is a small community with a total population of 1,435 residents. The area reflects a mix of homeowners and renters, with only 16.1% of the population being tenants. This suggests a predominantly owner-occupied environment, where the majority of residents have a vested interest in maintaining property values and community standards. The median household income in Weedville stands at $70,395, indicating a middle-class neighborhood capable of supporting a range of local businesses and services. The median home value is $146,306, which aligns with the overall financial stability of the area.
Transitioning into the economic landscape for rental properties, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,000 per month. However, the actual market rent, as reported by the Census Bureau's American Community Survey (ACS), is significantly lower at $690 per month. This discrepancy highlights an opportunity for landlords who can position their properties to capture a higher rent price, potentially closer to the FMR, without exceeding the affordability threshold for many residents.
Given these factors, Weedville, PA, is likely better suited for a hands-on value-add buyer rather than a hands-off voucher operator. The relatively low percentage of renters suggests that there might be limited demand for federally subsidized housing through the Section 8 program. Instead, a landlord who invests in improving property quality could command rents closer to the FMR, thereby increasing their revenue. This approach would also contribute positively to the neighborhood's appeal, aligning with the financial means of the local population.
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.