Location: Indiana County, PA | Metro: Indiana County, PA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,000 |
| 1 Bedroom | $1,180 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,900 |
| 4 Bedrooms | $2,070 |
| 5 Bedrooms | $2,401 |
| 6 Bedrooms | $2,689 |
| 7 Bedrooms | $2,904 |
| 8 Bedrooms | $3,049 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 16246 reveals several key points that are crucial for landlords and small-portfolio investors.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,350. However, the current market rent as per the Census ACS is only $830. This discrepancy suggests that the rent math does not currently work in favor of landlords, as the FMR is significantly higher than what tenants are willing to pay in the market.
The second question concerns the affordability of property acquisition. Unfortunately, the data provided does not include the median home value, days on market (DOM), or the percentage of homes that have had their prices cut. These metrics are essential for assessing the cost and ease of acquiring properties in the area. Without this information, it's challenging to make a definitive statement about the affordability of acquisitions in ZIP 16246.
The third question looks at tenant demand. With a total population of 152, the renter share stands at 15.3%. This indicates a limited pool of potential renters, which could translate into lower demand for rental properties. Given the small population size, even a slight fluctuation can have a significant impact on the number of available tenants.
In conclusion, ZIP 16246 presents a challenging environment for landlords and small-portfolio investors. The rent math does not align with the current market conditions, suggesting that rents may need to be adjusted downward to attract tenants. The lack of detailed data on property acquisition makes it difficult to assess the costs involved, but the low tenant demand due to the small population size is a significant concern. Investors should proceed with caution and consider these factors before committing to rental investments in this area.
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.