Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $920 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,550 |
| 4 Bedrooms | $1,680 |
| 5 Bedrooms | $1,949 |
| 6 Bedrooms | $2,183 |
| 7 Bedrooms | $2,358 |
| 8 Bedrooms | $2,476 |
U.S. Census Bureau data (2024)
The ZIP code 16035 stands out due to its small resident population of only 252 individuals, which makes it one of the least populated areas under analysis. Despite its small size, 13.2% of residents rent their homes, indicating a modest but present rental market. The median income in ZIP 16035 is $53,750, suggesting that while not high, there is a sufficient level of economic activity to support housing needs. However, the median home value is listed as N/A, which could imply that there's limited data available on home values or that the area primarily consists of rental properties.
Moving to the voucher economics, the Fair Market Rent (FMR) for ZIP 16035 in fiscal year 2024 is set at $1040. This figure is crucial for landlords and small-portfolio investors as it defines the maximum amount of rent that can be charged to tenants receiving Section 8 vouchers. Given the lack of market rent data, the FMR serves as a benchmark for setting rental rates in this ZIP code. It's important to note that without comparative market rent data, the effectiveness of the FMR as a pricing tool is somewhat limited, though it remains the standard for subsidized housing.
Based on the available data, ZIP 16035 presents a stable picture. The consistent median income and the presence of a rental market indicate that the area has established patterns of economic behavior. The absence of significant fluctuations in key metrics such as the percentage of renters and median income suggests that this ZIP code is unlikely to undergo rapid changes in the near future. For investors looking to enter or stay in the Section 8 market, ZIP 16035 offers a predictable environment with known financial parameters, making it a stable investment choice.
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.