Location: Johnstown, PA | Metro: Johnstown, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 15958 are straightforward. The SAFMR (Standard Area Fair Market Rent) for a two-bedroom apartment is set at $850 for fiscal year 2024. This figure is specific to this ZIP code, meaning it is tailored to reflect the rental market conditions here. In comparison, the local market rent for a two-bedroom unit is slightly higher at $878, based on the latest Census ACS data.
A Section 8 voucher pays a portion of the rent directly to the landlord, with the remainder paid by the tenant. The reimbursement amount is calculated as follows:
Let’s assume a tenant has an adjusted monthly income of $1,500. Their 30% contribution would be $450. If the SAFMR is $850, the housing authority would pay the landlord the remaining $400. Including a standard utility allowance, the total reimbursement could reach approximately $600.
This means that if you charge the SAFMR rate of $850, you would receive the full amount. However, if your market rent is $878, you would face a shortfall of $78 per month, since the housing authority does not reimburse amounts above the SAFMR. Conversely, if you charge less than $850, say $825, you would have a surplus of $25 per month, as the housing authority would still pay up to the SAFMR limit.
To maximize your income, aligning your rent pricing with the SAFMR of $850 is optimal. This ensures you receive the full reimbursement without leaving any money on the table. If you choose to charge the market rate of $878, you must be prepared for a reimbursement gap of $78 per month, which the tenant would need to cover out-of-pocket. It is crucial to ensure that tenants can afford their share of the rent to avoid potential delinquency issues.
In summary, the typical reimbursement gap for a two-bedroom apartment in ZIP 15958 is $78 when charging the market rate. By setting your rent at $850, you can avoid this gap and receive the full SAFMR reimbursement.
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.