Location: Johnstown, PA | Metro: Johnstown, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
U.S. Census Bureau data (2024)
In ZIP code 15943, several factors could pose challenges for landlords considering Section 8 investments. Tenant turnover is a significant concern due to the disparity between the market rent of $738 and the Fair Market Rent (FMR) of $890 for fiscal year 2024. This gap suggests that tenants might seek higher rent subsidies, leading to frequent moves once they find better financial support elsewhere.
Vacancy exposure remains another critical issue. The data shows an absence of average days on market (DOM), which indicates uncertainty regarding how long a property might remain vacant. In a competitive rental market, this can translate into prolonged periods without income, impacting cash flow and profitability.
The deferred maintenance exposure is also notable. With a typical home value of $64,530 and a median income of $56,200, many residents might struggle to afford timely repairs and upkeep, potentially resulting in properties requiring substantial investments to meet housing quality standards.
However, these risks must be balanced against the high renter share in the area, which stands at 29.4%. A large proportion of renters often correlates with higher demand for housing vouchers, providing a stable tenant base through government subsidies. This demand can act as a buffer against market fluctuations and provide consistent rental income.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.