Location: Armstrong County, PA | Metro: Armstrong County, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
U.S. Census Bureau data (2024)
The ZIP code 16263 presents a dynamic rental market that is currently evolving. With the Fair Market Rent (FMR) set at $990 for the fiscal year 2024, it suggests that the rental prices are regulated and provide a benchmark for affordability in the area.
The lack of data on market rent, price-cut share, days on market (DOM), and median home value indicates a scarcity of recent transactions or listings, which could imply either a stable market or one that is less active compared to others. This absence of detailed transactional data makes it challenging to determine if supply is outpacing demand or vice versa.
However, the 30.1% renter share provides insight into the long-term housing pressures within ZIP 16263. A higher percentage of renters can signal sustained demand for rental properties, suggesting that a significant portion of the population prefers or requires renting over owning. This trend often points towards a market where long-term housing pressure is likely to persist, driving continued interest in rental properties among both tenants and investors.
In such a scenario, landlords and small-portfolio investors should focus on maintaining competitive rents that align with the FMR while ensuring their properties meet the quality standards expected by renters. The high renter share also underscores the importance of understanding tenant demographics and preferences to cater to the local demand effectively.
To summarize, ZIP 16263 is characterized by a regulated rental environment with a notable presence of renters. While the exact supply-demand balance remains unclear due to limited data, the high renter share indicates a robust and potentially enduring rental market, beneficial for those looking to invest in rental properties.
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.