Location: Mercer County, PA | Metro: Crawford County, PA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP 16110 is set against a backdrop of median home values at $187,350, indicating a relatively affordable market segment. Despite the limited data on the percentage of listings that have been reduced and the median days on market (DOM), the static median home value suggests a stable market where significant downward pressure on prices is unlikely. This stability provides a solid foundation for landlords and small-portfolio investors looking to maintain their property values.
On the rental side, the Fair Market Rent (FMR) for ZIP 16110 is projected at $860 for fiscal year 2024. While the current market rent is not specified, the FMR serves as a benchmark for rental rates in the area, ensuring that landlords can set competitive prices that align with the broader housing market trends. This figure also helps in assessing the potential for rental income growth, which is crucial for long-term investment strategies.
For long-hold investors, the setup in ZIP 16110 signals a market where appreciation might be modest but steady. The median home value, coupled with the lack of substantial reductions in listing prices, points towards a resilient local economy capable of supporting gradual increases in property values. However, the absence of detailed DOM data limits the ability to gauge the speed of price adjustments, suggesting caution in expecting rapid capital gains.
The combination of these factors—affordable median home values, stable rental benchmarks, and a resilient economic base—positions ZIP 16110 as a market where landlords and small-portfolio investors can expect consistent performance rather than explosive growth. This scenario favors those who are investing for the long term, aiming for steady returns through rental income and gradual appreciation.
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.