Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $940 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,540 |
| 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 Fair Market Rent (FMR) for ZIP code 16048 in fiscal year 2024 is set at $1040. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program. It's important to note that this is not the actual rent you'll receive; it's the payment standard used by the Housing Choice Voucher program to determine the subsidy amount.
In comparison, the average rent for the area based on Census American Community Survey data is $850. This means that while the Section 8 program caps the maximum allowable rent at $1040, the typical market rate for renting in ZIP 16048 is lower. As a landlord, you should aim to set your rent at a competitive level that attracts tenants while also being mindful of the maximum subsidy.
The rental share in ZIP 16048 is 27.0%, indicating a strong demand for rental properties. This percentage suggests that nearly one in four residents are renters, making it a viable market for Section 8 rentals. However, the acquisition cost for properties in this area is listed as N/A, which could mean there isn't enough data available or that property values fluctuate widely. This makes it challenging to predict the exact cost of buying a property, but it doesn't necessarily mean the investment won't be profitable.
Before proceeding with a Section 8 rental in ZIP 16048, you must verify that your property meets all the necessary inspection criteria set by the local housing authority. These inspections ensure that the property is safe and habitable for tenants, and failing to meet these standards could result in disqualification from the program. Once your property passes the inspection, you can proceed with confidence, knowing that you're providing a quality living space and adhering to the guidelines.
To summarize, the FMR of $1040 sets the upper limit for rent under Section 8, while the local average of $850 gives an idea of typical market rates. With a 27.0% renter share, there is significant demand for rental properties. The key step before committing to a Section 8 rental is ensuring your property meets the required inspection standards.
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.