Location: Johnstown, PA | Metro: Johnstown, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,480 |
| 5 Bedrooms | $1,717 |
| 6 Bedrooms | $1,923 |
| 7 Bedrooms | $2,077 |
| 8 Bedrooms | $2,181 |
U.S. Census Bureau data (2024)
The ZIP code 15922 presents several challenges for landlords considering participation in the Section 8 program. First, the tenant turnover rate is unpredictable due to the lack of market rent data. However, the Fair Market Rent (FMR) for the area is set at $860 for fiscal year 2024, which provides a benchmark for rental rates. This can lead to potential mismatches between the rental prices landlords wish to charge and the subsidy limits, causing financial strain if the landlord's desired rent exceeds the FMR.
Vacancy exposure is another significant risk factor. With no available data on the days on market (DOM), it is difficult to gauge how long properties might remain vacant. A prolonged vacancy period can result in lost revenue and increased maintenance costs, as properties sit unoccupied for extended periods.
Deferred maintenance is also a concern. Without specific data on the typical home values and median incomes in ZIP 15922, it is challenging to assess the ability of residents to maintain their homes properly. This can translate into higher repair and maintenance expenses for landlords, especially when dealing with tenants who may have limited resources to address property upkeep.
Despite these risks, the ZIP code has a high renter share at 9.7%. High renter density typically correlates with higher demand for housing vouchers, indicating that there is a substantial pool of potential Section 8 tenants. This suggests that landlords in ZIP 15922 are likely to find interested voucher holders, reducing the overall risk of vacancy.
In conclusion, the risks associated with tenant turnover, vacancy exposure, and deferred maintenance in ZIP 15922 are notable, but the high renter share mitigates some of these concerns. The overall risk for a first-time Section 8 landlord in this ZIP code is moderate.
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.