Location: Armstrong County, PA | Metro: Armstrong County, PA HUD Metro FMR Area
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 | $820 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $820 | $99,890 | 0.82% | C |
| 2BR | $1,050 | $140,630 | 0.75% | D |
| 3BR | $1,370 | $202,441 | 0.68% | D |
| 4BR | $1,440 | $236,333 | 0.61% | D |
| 5BR | $1,670 | $238,015 | 0.7% | D |
U.S. Census Bureau data (2024)
The ZIP code 16201, located in Kittanning, Pennsylvania, presents a market characterized by a balance between rental and ownership dynamics, yet leans towards a scenario where demand slightly exceeds supply. The Fair Market Rent (FMR) for the area is set at $930 for the fiscal year 2024, which is higher than the reported market rent of $719 based on Census ACS data. This discrepancy suggests that while the government's benchmark for affordability is higher, actual market conditions are somewhat more favorable for tenants.
The low price-cut share of 0.2% indicates that landlords and homeowners are generally able to maintain their asking prices without significant adjustments, pointing to a resilient market where property values are stable. However, the median home value of $168,976 is relatively modest, suggesting that Kittanning is an affordable market for both renters and buyers. The lack of data on days on market (DOM) for homes could imply either a quick-selling market or a less active one, but given the low price-cut share, it's more likely that homes are selling close to their original listing prices.
A critical aspect of Kittanning's market is the 24.6% renter share, which is indicative of a community where a quarter of residents choose or must rent rather than own their homes. This figure suggests a persistent long-term housing pressure, as a significant portion of the population relies on rental properties. For landlords and small-portfolio investors, this translates into a steady demand for rental units, making Kittanning a potentially attractive investment location for those focused on the rental market.
In summary, Kittanning's market is one where rental prices are below the government's FMR, indicating a tenant-friendly environment. The low price-cut share and modest median home value suggest a stable and affordable market for homeownership. With a notable renter share, there is a consistent demand for rental properties, which can be leveraged by investors seeking to capitalize on Kittanning's unique housing dynamics.
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.