Section 8 Fair Market Rent (FMR) for ZIP 16161 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

The ZIP code 16161, located in Venango County, Pennsylvania, is characterized by a predominantly rental market with a significant portion of residents relying on federal housing assistance. This area offers a unique opportunity for investors interested in leveraging the Housing Choice Voucher program, commonly known as Section 8, to ensure steady rental income.

• The Fair Market Rent (FMR) for ZIP 16161 in fiscal year 2024 is set at $870, which represents the maximum amount that voucher holders can pay towards their rent.
• The market rent, according to the latest Census American Community Survey (ACS), stands at $613, indicating a substantial gap between the FMR and the actual market rates, which could be advantageous for landlords who accept vouchers.
• The median home value in ZIP 16161 is $59,763, reflecting the overall affordability of the housing stock in this region.
• Renters make up 40.9% of the population, suggesting a robust demand for rental properties.
• The median income of residents is $40,536, which aligns closely with the eligibility requirements for Section 8 assistance, thereby supporting a high concentration of voucher users.

In summary, ZIP 16161 presents a favorable environment for landlords and small-portfolio investors willing to participate in the Section 8 program. The discrepancy between the market rent and the FMR provides a margin for profit, while the high percentage of renters and the median income levels indicate a stable tenant pool. Given these factors, properties that meet the criteria for Section 8 acceptance are likely to see consistent occupancy and rental income. However, it's important to note that the competition for Section 8 tenants might be intense due to the high demand, so maintaining quality standards and understanding the program's regulations will be crucial for success.

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.