Location: Clarion County, PA | Metro: Clarion County, PA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
The median income in ZIP code 16230 stands at $46,932, which places significant constraints on the financial capabilities of households seeking rental housing. The market rate for rent, according to the Census ACS, is set at $715. This figure represents a substantial portion of the average household's monthly income, making it challenging for residents to find affordable housing options without financial strain.
Comparatively, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $970, which is notably higher than the current market rate. This discrepancy highlights a potential issue where the market rate might be unsustainable for many local residents, while the FMR could exceed what landlords typically charge, indicating a misalignment between government standards and actual market conditions.
With 25.1% of the 501 population being renters, the demand for affordable housing is evident. However, the affordability gap—where the median income is lower than what would be needed to comfortably cover the FMR—suggests that competition among landlords could be fierce. Landlords who rely solely on market-rate rents might struggle to fill vacancies if many potential tenants cannot afford the costs.
For landlords considering their strategy, the data points to a scenario where accepting Section 8 vouchers could provide a stable source of income, especially if the FMR covers the majority of rent payments. While the FMR of $970 is higher than the current market rate of $715, it means that voucher holders can afford higher rents, potentially leading to less vacancy and more consistent cash flow. On the other hand, landlords who opt for cash-paying tenants should be prepared for a competitive market, where they might need to keep rents close to the current market rate to attract and retain tenants.
In summary, landlords in ZIP 16230 should consider the financial realities faced by local renters. Accepting Section 8 vouchers at the FMR of $970 can offer a balance between stability and accessibility, whereas focusing on cash-paying tenants requires careful consideration of the affordability gap and the potential challenges in maintaining occupancy rates.
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.