Location: Indiana County, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
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 | $790 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,040 | $130,383 | 0.8% | D |
| 3BR | $1,370 | $184,054 | 0.74% | D |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 15944, located in New Florence, PA, within the Westmoreland County and Indiana County metro areas, reveals a favorable environment for those seeking stable rental income. The HUD Fair Market Rent (FMR) for FY 2024 is set at $1000, which is significantly higher than the market rent of $698 reported by the Census ACS. This indicates that voucher tenants will cashflow at the FMR, providing landlords with a reliable source of above-market-rate income.
To further assess the investment potential, consider the median home value of $141,245. The rent-to-price ratio, calculated using the HUD FMR, is approximately 1%, which is quite low compared to typical market ratios. This suggests that properties in this area are undervalued relative to their rental potential, making them attractive for purchase by investors looking to capitalize on this discrepancy.
The dynamics between renting and buying in this market do not significantly impact the decision-making process for investors. There is insufficient data to determine the median days on market (DOM) or the percentage of homes that have experienced price cuts. However, the absence of these factors does not detract from the overall positive outlook for Section 8 investments in this region.
In conclusion, the strongest angle for investors in ZIP 15944 is cashflow, given the substantial gap between HUD FMR and the local market rent, ensuring a consistent and above-average income stream from voucher tenants.
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.