Location: Armstrong County, PA | Metro: Pittsburgh, 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 | $920 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,550 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,550 | $201,441 | 0.77% | D |
U.S. Census Bureau data (2024)
The ZIP code 16041, located within the Armstrong County, PA HUD Metro FMR Area, presents a unique set of characteristics that can be analyzed against the broader county metrics. With a Fair Market Rent (FMR) of $930 for fiscal year 2024, it closely mirrors the average market rent of $944, indicating that it aligns well with the overall rental cost trends in the area.
The median home value in ZIP 16041 stands at $159,147, which is likely representative of the housing market conditions in the surrounding ZIP codes. This figure suggests that the area is neither exceptionally expensive nor particularly affordable compared to other parts of the county. The 15.4% share of renters in 16041 is also indicative of a balanced mix between homeowners and renters, reflecting the typical composition found in many ZIP codes within the Armstrong County, PA HUD Metro FMR Area.
To determine whether ZIP 16041 represents a value pocket, a mid-tier neighborhood, or a premium sub-market within its metro, we must consider the interplay between these figures. Given that the FMR and market rent are nearly identical, and the home value is moderate, it suggests that 16041 is most likely a mid-tier neighborhood. It offers neither the lowest rents nor the highest home values, placing it squarely in the middle of the spectrum.
However, there is an interesting divergence worth noting. Despite having a below-average home value, the renter share in ZIP 16041 is relatively high. This combination often signals a potential sweet spot for Section 8 participants. High renter share indicates a significant portion of the population relies on rental assistance programs, while lower home values suggest that properties in this area might be more accessible for those seeking to enter the housing market with limited financial resources.
In conclusion, ZIP 16041 appears to be a mid-tier neighborhood within the Armstrong County, PA HUD Metro FMR Area, with rental costs and home values that reflect the average conditions of the broader region. Its higher-than-average renter share coupled with below-average home values could make it particularly attractive for Section 8 participants, potentially positioning it as a value pocket for landlords and small-portfolio investors looking to serve this demographic.
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.