Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,080 |
| 1 Bedroom | $1,150 |
| 2 Bedrooms | $1,390 |
| 3 Bedrooms | $1,770 |
| 4 Bedrooms | $1,920 |
| 5 Bedrooms | $2,227 |
| 6 Bedrooms | $2,494 |
| 7 Bedrooms | $2,694 |
| 8 Bedrooms | $2,829 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 16053 in fiscal year 2024 is set at $850. 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 will receive; it's the benchmark used to determine the subsidy amount.
In ZIP 16053, the average market rent according to the Census American Community Survey (ACS) is $1,520. This means that the FMR is significantly lower than the typical rent in the area, potentially making it less attractive for landlords who could get higher rents elsewhere. However, the demand for affordable housing remains strong, with 16.2% of the population being renters who might qualify for Section 8 assistance.
The acquisition cost for a property in this area can be substantial. For instance, the median home value is $307,181, which is a significant investment for any landlord or small-portfolio investor. Given the disparity between the FMR and the market rent, it's crucial to consider whether the benefits of participating in Section 8 outweigh the potential loss of income compared to renting at market rates.
To ensure your participation in the Section 8 program is worthwhile, verify the local demand for subsidized housing. Check if there are any waiting lists for Section 8 vouchers in ZIP 16053, which would indicate a high demand. Additionally, review the eligibility criteria for tenants to understand the process and ensure compliance with the program requirements.
In summary, while the FMR of $850 is lower than the average market rent of $1,520, the 16.2% renter share suggests a consistent need for affordable housing. The median home value of $307,181 underscores the financial commitment required. Before proceeding, confirm the local demand for Section 8 vouchers to make an informed decision.
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.