Location: Clarion County, PA | Metro: Armstrong County, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,580 |
| 5 Bedrooms | $1,833 |
| 6 Bedrooms | $2,053 |
| 7 Bedrooms | $2,217 |
| 8 Bedrooms | $2,328 |
U.S. Census Bureau data (2024)
The ZIP code 16223 presents an interesting scenario for real estate investment, particularly for those interested in Section 8 properties. With a Fair Market Rent (FMR) of $890 for fiscal year 2024, this area stands out when compared to the lack of available market rent and home value data, suggesting that it is primarily a government-assisted housing market.
The rental market stability is indicated by the 29.3% share of renters and an average household income of $60,521. While the percentage of renters is relatively low, the income figure suggests that there is a moderate level of financial stability among residents, which can be beneficial for maintaining consistent rental payments.
Given these figures, ZIP 16223 leans towards being a high-yield market due to the reliance on government-set rents, which are often higher than typical market rates in assisted housing areas. However, the stability is somewhat compromised by the limited data on market conditions and the day-on-market (DOM) figures, which could indicate varying levels of property turnover and tenant reliability.
To conclude, ZIP 16223 appears to be a market that offers a balance between high yield and moderate stability. The $890 FMR provides a clear rental income target, while the $60,521 median income supports the viability of rental agreements. Landlords and small-portfolio investors should consider the potential for higher returns but also be prepared for possible challenges related to tenant turnover and market dynamics.
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.