Location: Johnstown, PA | Metro: Johnstown, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
U.S. Census Bureau data (2024)
ZIP code 15955, located within the Johnstown, PA MSA, presents a unique profile when compared to typical ZIP codes in the same metropolitan area. The Fair Market Rent (FMR) for 15955 in fiscal year 2024 is set at $850, which is notably lower than the market rent of $928. This indicates that the subsidized rental rates are slightly below what the market would naturally dictate, suggesting a potential value pocket for landlords who can attract Section 8 tenants.
The median home value in 15955 stands at $103,261, which is relatively low compared to other ZIP codes in the Johnstown, PA MSA. This could mean that the area is less desirable for homeowners but might be attractive for renters looking for affordable housing options. Given that only 3.6% of residents are renters, it's clear that the majority of homes in this ZIP code are owner-occupied, making it less of a focus for rental investment opportunities.
However, the low renter share combined with below-average home values and slightly below-market FMR suggests that 15955 is not a primary target for Section 8 investors. For a ZIP code to be considered a sweet spot for Section 8 properties, we would typically see a higher renter share with lower home values, indicating a concentration of rental units that cater to subsidized housing needs. In this case, the data points towards a neighborhood where homeownership is prevalent, and rental demand is relatively low.
In summary, ZIP code 15955 appears to be a value pocket for landlords willing to work with Section 8 tenants, given the slightly lower FMR compared to market rent. However, the low renter share and below-average home values indicate that it is primarily a homeowner-focused area, with limited rental activity compared to other ZIP codes in the Johnstown, PA MSA.
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.