Location: Indiana County, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,360 |
| 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)
19.9% of Seward, PA residents are renters, indicating a moderate demand for rental properties in ZIP code 15954. The Fair Market Rent (FMR) for Section 8 housing in this area is set at $920 for zip FY 2024, providing a benchmark for what landlords can expect to receive through the program. Comparatively, the market rent, as reported by the Census ACS, stands at $733, suggesting that Section 8 can offer a premium of approximately $187 per unit over the average market rate. This premium is significant, especially when considering the median home value in Seward, PA, which is $111,318, reflecting an affordable market for both buyers and those seeking rental accommodations.
The median income in Seward, PA is $43,958, which is below the national average and indicates that a portion of the population may rely on assistance programs such as Section 8 to afford housing. While the days on market (DOM) and the percentage of price-cut shares are not available, the combination of a relatively low market rent and a higher FMR for Section 8 suggests that landlords could see stable and predictable income from tenants participating in the program. Moreover, the lower median income implies a steady need for subsidized housing, ensuring a consistent pool of potential tenants.
In conclusion, the data points towards Seward, PA being a viable market for Section 8 rentals, offering landlords a chance to secure a reliable income stream with units rented at a rate above the local market average. The $920 FMR for Section 8 provides a clear advantage over the $733 market rent, making it a strategic choice for investors looking to capitalize on the existing demand for affordable housing in the area. The verdict on Section 8 in Seward, PA is positive, given the favorable financials and the ongoing need for subsidized housing options.
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.