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 15931 stands out within its county due to several key demographic and economic factors. With a population of 8,919 residents, it has a rental rate of 18.3%, indicating a smaller but significant portion of the community relies on rented properties. The median income here is $64,780, which is relatively moderate, and the median home value sits at $190,093, reflecting a stable housing market.
The distinctiveness of ZIP 15931 is further highlighted by the dynamics of the Section 8 voucher program. The Fair Market Rent (FMR) for the area, set at $930 for fiscal year 2024, exceeds the typical market rent of $835 as reported by the Census Bureau's American Community Survey. This suggests that landlords and small-portfolio investors could benefit from participating in the Section 8 program, as they would receive a higher rent subsidy compared to the average market rate. The difference of $95 per month between the FMR and the market rent can provide a buffer against potential maintenance costs and vacancies.
Given the data signature, ZIP 15931 appears to be in a stable phase. The median home value has remained consistent, and the median income indicates a middle-class community. While the rental rate is not high, the presence of the Section 8 program and the favorable FMR-to-market-rent ratio can offer stability for those who choose to engage with subsidized tenants. This stability is particularly important for small-portfolio investors looking to maintain steady cash flows without the volatility often associated with transitional markets.
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.