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 | $770 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,110 | $147,224 | 0.75% | D |
| 3BR | $1,450 | $218,059 | 0.66% | D |
| 4BR | $1,520 | $256,937 | 0.59% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP 16262 does not align perfectly. The Federal Market Rent (FMR) set at $1060 for the fiscal year 2024 is higher than the actual market rent reported by the Census ACS, which stands at $939. This discrepancy suggests that while landlords can aim for the FMR to cover their costs and profit margins, they might face challenges in fully justifying this higher rent to tenants.
Regarding acquisition affordability, the median home value in ZIP 16262 is $190,983. Unfortunately, specific data on days on market (DOM) and the percentage of homes that required a price cut are not available. However, the median home value indicates that properties are relatively affordable for potential acquisitions, especially considering the lower market rent.
Tenant demand in ZIP 16262 is modest. With a total population of 2,772, only 16.0% of residents are renters. This translates to approximately 443 potential rental households. While this number is not insignificant, it suggests a limited pool of tenants compared to areas with a higher renter share.
Verdict: ZIP 16262 presents a mixed scenario for landlords and small-portfolio investors. Although the area offers affordable property acquisition opportunities with a median home value of $190,983, the gap between FMR and market rent could pose challenges in attracting tenants willing to pay the higher rates. Additionally, the limited renter share of 16.0% implies a smaller pool of potential tenants. Landlords must carefully manage their expectations and possibly adjust their rental pricing strategies to align with market conditions while still aiming to meet operational costs and profitability goals.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.