Location: Clarion County, PA | Metro: Clarion County, PA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
U.S. Census Bureau data (2024)
The ZIP code 16331 presents a unique challenge for both renters and landlords due to limited data on median income and market rate rents. However, with the available information, we can draw some insights.
Affordability remains a key concern for renters. The voucher payment standard for the metro area in fiscal year 2026 is set at $970, which serves as a benchmark for affordable housing. Given that the median income and market rate rents are not reported, it is difficult to provide a precise comparison. However, landlords should consider that the majority of renters might rely heavily on government assistance such as vouchers to cover their housing costs.
The ZIP code has a relatively low population of 123 individuals, with 20.5% being renters. This indicates a small rental market, which could lead to increased competition among landlords for tenants who can pay above the voucher rate. The limited number of potential renters means that landlords must be strategic in pricing their units to attract those who can afford higher rents while still remaining competitive against other landlords who accept vouchers.
The affordability gap, represented by the reliance on the $970 FMR voucher, suggests that many households in ZIP 16331 cannot afford market rate rents without financial assistance. This gap is crucial for landlords to understand as it influences the demand for subsidized housing versus cash-paying tenants.
For landlords considering their strategy, accepting vouchers can ensure a steady stream of tenants, albeit at a fixed rate. However, the competition for these tenants will be high given the small rental pool. Landlords who can offer units at or near the $970 FMR will likely have an easier time filling vacancies. On the other hand, those who aim to attract cash-paying tenants must balance their rates carefully, ensuring they do not price themselves out of the market while also maximizing profitability.
The takeaway is clear: landlords in ZIP 16331 should be prepared to cater to a mix of voucher recipients and cash-paying tenants. Pricing flexibility and understanding the local market dynamics will be key to success in this small but competitive rental environment.
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.