Location: McKean County, PA | Metro: McKean County, PA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
U.S. Census Bureau data (2024)
The ZIP code 16333 is a sparsely populated area with a total population of 248 residents. Only 3.7% of these residents are renters, indicating a predominantly owner-occupied community. The median household income in this ZIP code stands at $44,405, which is relatively modest compared to larger metropolitan areas.
Given the limited rental market presence, it's important to note that the median home value is not available, suggesting a focus on single-family homes rather than multifamily units. This aligns with the low percentage of renters in the area.
In terms of rent economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $990. However, specific market rent data for ZIP 16333 is unavailable, implying a niche market that may not be widely tracked or reported.
Considering the characteristics of ZIP 16333, it is likely better suited for a hands-on value-add buyer rather than a hands-off voucher operator. With such a small rental market, there is little opportunity for passive income through Section 8 vouchers alone. Instead, an active investor could potentially create value by developing rental properties or improving existing ones to meet the needs of the local rental market, which appears to be underserved and may benefit from additional housing options.
For those interested in leveraging Section 8 vouchers, the area’s low renter population suggests that competition for tenants may be minimal, but also that demand is limited. Therefore, focusing on value-add strategies, such as enhancing property quality or increasing rental offerings, would be more effective in this context.
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.