Location: Mercer County, PA | Metro: Mercer County, PA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
U.S. Census Bureau data (2024)
ZIP code 16130, located within the Mercer County, PA metro, presents a unique profile when compared to typical ZIP codes in the same county. The Fair Market Rent (FMR) for ZIP 16130 in fiscal year 2024 is set at $850, slightly above the market rent figure of $837. This indicates that the rental pricing in 16130 is aligned closely with the government's assessment of fair rent levels, suggesting a stable and somewhat regulated rental market.
The median home value in ZIP 16130 stands at $174,551, which is a critical point of comparison. If this figure is lower than the average home value across other ZIP codes in Mercer County, it could suggest that 16130 is either a value pocket or a mid-tier neighborhood, depending on the overall distribution of home values within the county. Lower home values can be indicative of a more affordable area for both homeowners and renters, potentially attracting a higher proportion of renters who might benefit from Section 8 housing assistance.
The renter share in ZIP 16130 is 13.8%, which is another key metric. A higher-than-average renter share in a ZIP code with below-average home values can indicate a sweet spot for Section 8 participants. This scenario suggests that there may be ample opportunities for landlords and small-portfolio investors to engage in Section 8 programs due to the alignment of rental prices and the availability of homes at relatively lower values.
To conclusively determine whether ZIP 16130 is a value pocket, a mid-tier neighborhood, or a premium sub-market, a direct comparison to the average metrics of other ZIP codes in Mercer County would be necessary. However, based on the given figures, ZIP 16130 appears to be a mid-tier neighborhood, with rental prices and home values that are competitive but not excessively high. The slightly elevated renter share points towards a potentially attractive environment for Section 8 tenants and their landlords.
If the average home value in Mercer County significantly exceeds $174,551, then ZIP 16130 would lean more toward being a value pocket. Conversely, if the average home value is around or below this figure, 16130 would likely be considered a mid-tier neighborhood. The presence of a 13.8% renter share, combined with the specific FMR and market rent figures, supports the notion that this ZIP code offers opportunities for landlords interested in Section 8 tenancy.
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.