Location: Armstrong County, PA | Metro: Armstrong County, PA HUD Metro FMR Area
| 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 |
U.S. Census Bureau data (2024)
The ZIP code 16236 presents a unique scenario when it comes to housing affordability. With a median household income of $49,057, residents face significant challenges in affording the local market rate rent, which unfortunately is listed as N/A, indicating a lack of available data on current rental prices.
In comparison, the Fair Market Rent (FMR) standard for Section 8 vouchers in ZIP 16236 for fiscal year 2024 is set at $890. This figure represents the maximum amount that landlords can expect to receive through the voucher program for renting out a unit in this area. Given the limited information on market rates, we can infer that if the actual market rents are higher than the FMR, there could be a substantial affordability gap for renters relying solely on their income or the voucher program.
The ZIP code has a relatively low percentage of renters at 12.5% of the total population of 405. This suggests that the majority of residents own their homes, which could indicate a smaller pool of potential tenants looking for rental properties. However, the presence of any renters means there is still demand for affordable housing options.
The affordability gap is a critical factor for landlords considering their rental strategies. If market rates exceed the FMR, landlords who accept Section 8 vouchers might find themselves in a position where they can attract a steady stream of tenants without having to worry about rent increases. On the other hand, landlords who opt to charge market rates must ensure that their pricing aligns with the financial capabilities of the local population or risk facing high vacancy rates.
The takeaway for landlords is clear: accepting Section 8 vouchers can be a reliable strategy given the lower percentage of renters and the potential for an affordability gap. It ensures a consistent income stream of $890 per month, which, while fixed, offers stability and a guaranteed tenant base. Landlords who choose to pursue cash-paying tenants should conduct thorough market research to understand the local rental landscape and adjust their pricing accordingly to remain competitive.
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.