Location: Mercer County, PA | Metro: Mercer County, PA
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 | $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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,050 | $76,406 | 1.37% | A |
| 3BR | $1,450 | $91,577 | 1.58% | A+ |
| 4BR | $1,650 | $126,792 | 1.3% | A |
U.S. Census Bureau data (2024)
The ZIP code 16146, located in Sharon, PA, is predominantly a renter-heavy area. With a population of 12,936, nearly half of the residents—47.0%—are renters, indicating a significant demand for rental properties. This high percentage of renters suggests that there is likely a substantial number of Section 8 voucher holders seeking housing within the area.
The median household income in Sharon, PA, stands at $45,670, which provides a baseline for understanding the financial capacity of potential tenants. The average market rent of $873 is slightly above the Fair Market Rent (FMR) of $850 set for FY 2024, but remains within a reasonable range for the majority of residents. To put this into perspective, the typical rent of $873 constitutes approximately 19.1% of the median household income. This percentage aligns with general affordability standards, making it feasible for many residents to afford the average rent without assistance.
However, given the economic conditions and the presence of a significant number of renters, it is likely that a considerable portion of the tenant pool will rely on Section 8 vouchers. These vouchers are designed to help low-income families pay for their housing, and they cover a large part of the rent, typically up to the FMR level of $850. Landlords in this area should be prepared to accommodate tenants who use these vouchers, ensuring that their rents do not exceed the FMR limit to remain eligible for voucher payments.
The type of tenant profile a landlord can expect in ZIP 16146 includes individuals and families with incomes below the median, who will require housing assistance to meet their living expenses. These tenants will likely have stable income sources such as employment, social security, or disability benefits, and will be looking for affordable housing options that fit within their budget constraints. Landlords should be ready to manage properties that cater to this demographic, possibly focusing on maintaining competitive pricing and adhering to the quality standards required for voucher acceptance.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.