Location: Lawrence County, PA | Metro: Lawrence 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 | $910 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,310 |
| 3 Bedrooms | $1,810 |
| 4 Bedrooms | $2,010 |
| 5 Bedrooms | $2,332 |
| 6 Bedrooms | $2,612 |
| 7 Bedrooms | $2,821 |
| 8 Bedrooms | $2,962 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,310 | $171,250 | 0.76% | D |
| 3BR | $1,810 | $217,723 | 0.83% | C |
| 4BR | $2,010 | $330,384 | 0.61% | D |
| 5BR | $2,332 | $371,943 | 0.63% | D |
U.S. Census Bureau data (2024)
New Castle, PA, located in Lawrence County, stands out among other ZIP codes due to its unique demographic and economic characteristics. With a population of 15,418 residents, 23.6% of whom rent their homes, New Castle has a median household income of $65,855. The median home value in this area is notably higher at $208,368, reflecting a stable housing market.
The voucher economics in ZIP 16105 reveal an interesting discrepancy between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2026, the FMR for the metro area is set at $1,250. However, the Census ACS data indicates that the average market rent is $1,044. This suggests that landlords can potentially receive higher rents through Section 8 vouchers compared to the current market rates, making it a favorable option for property owners in this region.
Analyzing the data signature of ZIP 16105, it appears to be a stable area. The relatively high median income and median home value indicate financial stability among residents. Additionally, the slight increase in rental percentage over time suggests a growing demand for rental properties, which can be met through the Section 8 program. Landlords and small-portfolio investors should consider the benefits of participating in the Section 8 program, as it provides a reliable source of income and helps fill vacancies in a stable market environment.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.