Section 8 Fair Market Rent (FMR) for ZIP 16134 - 2027
Location: Mercer County, PA | Metro: Crawford County, PA
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $790 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$63,519
Housing Authorities Serving ZIP 16134
A decision tree for evaluating whether to purchase properties in ZIP code 16134 for Section 8 investment involves three key questions:
- Does the Fair Market Rent (FMR) of $870 cover the debt service on a property valued at $139,818?
- If yes, proceed to the next question.
- If no, do not invest. The FMR must be sufficient to ensure that the rental income can cover the mortgage payments and other associated costs.
- Is the market rent of $680 above, at, or below the FMR?
- If market rent is below the FMR, consider investing as you will be able to charge closer to the FMR, which is higher than what the market currently dictates. This provides a better margin for covering expenses and generating profit.
- If market rent is at or above the FMR, reconsider your investment strategy. There might not be enough incentive for tenants to choose a Section 8 property over a market-rate rental.
- Are 16.2% of residents renters and is the number of days on the market (DOM) sufficient to meet demand?
- If the 16.2% of renters is coupled with a low DOM, indicating quick turnover, there is likely enough demand for Section 8 properties. Proceed with investment.
- If the DOM is high, suggesting slow turnover, it may indicate a lack of demand or difficulty in finding eligible tenants. In this case, the answer is it depends. You would need to research further into the local housing market conditions and tenant availability.
The analysis concludes that if the FMR covers the debt service, the market rent is below the FMR, and the percentage of renters is supported by a reasonable DOM, then the answer is yes, you should consider buying in ZIP 16134 for Section 8 purposes. However, if any of these conditions are not met, particularly a high DOM, then the answer shifts to it depends, requiring additional investigation before making 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.