Location: Clarion County, PA | Metro: Armstrong County, 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 | $740 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,560 |
| 5 Bedrooms | $1,810 |
| 6 Bedrooms | $2,027 |
| 7 Bedrooms | $2,189 |
| 8 Bedrooms | $2,298 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $147,334 | 0.69% | D |
| 3BR | $1,280 | $173,076 | 0.74% | D |
U.S. Census Bureau data (2024)
The dynamics of ZIP 16028, located in East Brady, PA, reveal a market in motion. The Fair Market Rent (FMR) for the area is set at $850 for fiscal year 2024, while the market rent based on Census ACS data stands at $756. This indicates that rental properties are priced slightly below the benchmark set by the government, suggesting a competitive environment where landlords are willing to offer rates that align with what tenants can afford.
A median home value of $131,791 places East Brady in a segment of the market that is attractive to first-time buyers and those seeking affordable homeownership options. However, the lack of data on price-cut share and days on market (DOM) makes it challenging to definitively state whether supply is outpacing demand or vice versa. Nonetheless, the gap between FMR and market rent suggests that there might be a slight oversupply of rental units, as landlords compete to attract tenants.
The 26.5% renter share in East Brady provides insight into the long-term housing pressure. With nearly one-quarter of residents renting, there is a consistent demand for rental properties, which can create pressure on landlords to maintain competitive pricing and quality to retain tenants. This percentage also implies that a significant portion of the population may be facing financial constraints that prevent them from purchasing homes, thereby exerting ongoing demand on the rental market.
In summary, ZIP 16028 presents a rental market that is competitive but stable, with rental prices slightly below the FMR. The median home value suggests an affordable homeownership market, yet the substantial renter share points to enduring housing pressures and a steady demand for rental properties. Landlords and small-portfolio investors should focus on maintaining quality and affordability to capitalize on these dynamics.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.