Location: Johnstown, PA | Metro: Johnstown, PA MSA
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 | $830 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,410 | $62,238 | 2.27% | A+ |
U.S. Census Bureau data (2024)
The ZIP code 15902 presents a market in constant motion, defined by its balance between rental and ownership dynamics. The Fair Market Rent (FMR) for the area stands at $850 for the fiscal year 2024, while the actual market rent, as measured by ZORI (Zillow Observed Rent Index), is slightly lower at $831. This indicates that the rental market is closely aligned with government standards, suggesting a stable but competitive environment.
A key indicator of market health is the price-cut share, which in 15902 is exceptionally low at just 0.1%. This statistic points towards a strong seller's market, where landlords and homeowners have little need to reduce their asking prices to attract tenants or buyers. Additionally, the median home value of $44,620 is significantly below average, reflecting a broader trend of affordability within the region.
The 35.7% renter share is noteworthy, as it signals a substantial portion of the population relies on rental properties for housing. This high percentage of renters suggests ongoing long-term housing pressure, indicating that many residents find purchasing homes less feasible compared to renting. As a result, landlords can expect steady demand for rental units, though the competition among renters might keep market rents relatively stable.
In summary, the dynamics of ZIP 15902 suggest that demand for both rentals and home purchases is robust, but the limited need for price cuts and the high renter share imply that supply is meeting demand effectively. Landlords and small-portfolio investors should anticipate a market where rental properties will continue to be sought after, without significant fluctuations in pricing.
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.