Section 8 Fair Market Rent (FMR) for ZIP 16133 - 2027

Location: Mercer County, PA | Metro: Mercer County, PA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$810
1 Bedroom	$920
2 Bedrooms	$1,170
3 Bedrooms	$1,620
4 Bedrooms	$1,840
5 Bedrooms	$2,134
6 Bedrooms	$2,390
7 Bedrooms	$2,581
8 Bedrooms	$2,710

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,425

Median Household Income

$76,713

Housing Units

732

Renter Percentage

14.6%

Occupancy Rate

76.9%

Renter Occupied

The ZIP code 16133, located in Venango County, Pennsylvania, is a region characterized by its modest economic profile and a mix of homeowners and renters. This area presents a unique opportunity for real estate investors interested in the Section 8 housing market, given its specific rental dynamics and income levels.

The Fair Market Rent (FMR) for ZIP 16133 in fiscal year 2024 is set at $870, which is the maximum amount that a Section 8 voucher holder can pay for rent plus utilities in this area.
The market rent for the same area, according to the latest Census American Community Survey (ACS), is $921, indicating a slight premium over the FMR for non-subsidized units.
The median home value in ZIP 16133 is $197,426, reflecting the overall property values and providing a benchmark for investment opportunities.
Renters make up 14.6% of the population, suggesting a moderate demand for rental properties, including those eligible for Section 8 subsidies.
The median income of residents is $76,713, which is above the national average, implying a stable economic base that supports both rental and homeownership markets.

Investors looking to enter the Section 8 market in ZIP 16133 should focus on properties that can be rented for around $870, aligning with the FMR. The fact that market rents slightly exceed the FMR indicates potential for modest profit margins if managed correctly. With a median home value of $197,426, there's a reasonable entry point for purchasing properties. However, the relatively low renter share of 14.6% suggests that the competition for Section 8 tenants might be less intense compared to areas with higher concentrations of renters. Lastly, the median income figure of $76,713 provides assurance regarding the financial stability of the local population, reducing risks associated with tenant default.

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.