Location: Venango County, PA | Metro: Mercer County, PA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
U.S. Census Bureau data (2024)
The ZIP code 16311 encompasses a primarily owner-occupied neighborhood with only 4.5% of its 421 residents being renters. The median household income here stands at $70,938, indicating a relatively affluent community. However, the median home value is notably lower at $172,907, suggesting that homeownership remains accessible even in this higher-income area.
When it comes to rental economics, the Fair Market Rent (FMR) for ZIP 16311 in fiscal year 2024 is set at $850. In contrast, the actual market rent, as reported by the Census Bureau's American Community Survey (ACS), is $763. This discrepancy means that landlords participating in the Section 8 program can potentially receive a higher rent payment compared to the local market rate, which could be beneficial for maintaining property values and covering expenses.
Given these conditions, ZIP 16311 would likely appeal to both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the higher FMR relative to the market rent provides a stable income stream with minimal risk of vacancy. The low percentage of renters suggests a smaller pool of potential tenants but also less competition, making it easier to attract those who qualify for Section 8 assistance.
For hands-on value-add buyers, there is an opportunity to improve properties and still remain competitive with the Section 8 rent subsidy. The relatively low median home value indicates that properties might be undervalued, offering a chance to purchase and renovate for a profit while still being within reach of Section 8 tenants.
In summary, ZIP 16311 presents a unique investment opportunity for Section 8 landlords. With a median income above the national average and a low percentage of renters, it offers a stable environment for hands-off operators. Meanwhile, the lower median home value and the potential for higher rents through FMR subsidies make it attractive for hands-on investors looking to add value to their 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.