Location: Venango County, PA | Metro: Venango County, PA
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 | $720 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $790 | $58,676 | 1.35% | A |
| 2BR | $1,030 | $83,425 | 1.23% | A |
| 3BR | $1,300 | $94,804 | 1.37% | A |
| 4BR | $1,450 | $94,830 | 1.53% | A+ |
| 5BR | $1,682 | $104,804 | 1.6% | A+ |
U.S. Census Bureau data (2024)
The ZIP code 16301, located in Oil City, PA, presents a market in equilibrium but leaning slightly towards a balance favoring demand. This inference is drawn from the comparison between the Fair Market Rent (FMR) set at $1,000 for the fiscal year 2026 and the actual market rent observed at $815, according to the Census ACS. The lower market rent suggests that properties are being priced below the FMR, indicating a competitive market where landlords are trying to attract tenants.
A key indicator of market dynamics is the 0.2% price-cut share. This low percentage implies that landlords rarely need to reduce rental prices to secure tenants, a sign that the rental market is relatively robust. However, the absence of data on days on market (DOM) leaves an important variable unexplored, which could clarify the speed at which properties are rented. Despite this gap, the overall picture points to a stable market where rental properties are sought after.
The median home value of $87,076 is another critical piece of information. While it doesn't directly indicate whether supply outpaces demand, it provides context for affordability and potential investment value. Given the lower market rent compared to FMR, there's an implication that the rental market might be experiencing some upward pressure, as evidenced by the reluctance to cut prices significantly.
The 30.2% renter share highlights a substantial portion of the population choosing to rent rather than own homes. This trend can signal long-term housing pressures, particularly if the renter base is growing or if homeownership is becoming less accessible. A high renter share often correlates with areas facing economic challenges or where homeownership is less feasible, leading to sustained demand for rental properties. In ZIP 16301, this figure underscores the importance of rental properties to the local economy and suggests that rental properties will remain a significant part of the housing landscape.
Landlords and small-portfolio investors should take note of these dynamics. The close alignment of market rents to the FMR, without the necessity of frequent price reductions, indicates a resilient rental sector. However, the median home value and the high renter share suggest that while there is strong demand, the area also faces challenges that could affect long-term stability. Investors should consider these factors when evaluating the potential for growth and sustainability in their rental investments within ZIP 16301.
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.