Location: Somerset County, PA | Metro: Somerset County, PA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,560 |
| 5 Bedrooms | $1,810 |
| 6 Bedrooms | $2,027 |
| 7 Bedrooms | $2,189 |
| 8 Bedrooms | $2,298 |
U.S. Census Bureau data (2024)
The ZIP code 15953 presents a unique market dynamic that frames it as an area in motion. The Fair Market Rent (FMR) for the region stands at $970 for fiscal year 2026, indicating a benchmark for rental prices set by HUD. However, the absence of current market rent data suggests either a nascent or evolving rental sector, which could imply that landlords have significant control over pricing due to limited competition.
The 0.0% renter share statistic is particularly noteworthy. This figure signals a predominantly owner-occupied environment, where long-term housing pressures may be mitigated by low vacancy rates and high homeownership. In such a scenario, any increase in demand for rentals could quickly elevate rents, making it a potentially lucrative market for landlords willing to enter or expand their presence.
The lack of information on price-cut share and days on market (DOM) indicates stability in the market, but also a scarcity of rental listings. This could mean that the few rental properties available are highly sought after, leading to shorter periods of vacancy and less need for aggressive pricing strategies. The median home value being unavailable points to a smaller sample size or less frequent transactions, which might suggest a slower-moving real estate market overall, but with strong potential for rental investments.
In summary, ZIP 15953 appears to be a market where demand for rentals is likely to exceed supply, given the high FMR and low renter share. Landlords and small-portfolio investors should consider this area for its potential to offer stable and possibly increasing returns on rental investments, especially if they can provide competitive amenities and services that attract tenants in this owner-dominated community.
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.