Location: Crawford County, PA | Metro: Crawford 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 | $840 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,090 | $136,617 | 0.8% | D |
| 3BR | $1,500 | $184,999 | 0.81% | C |
U.S. Census Bureau data (2024)
The ZIP code 16335, encompassing Meadville, PA, presents a market where rental dynamics are clearly defined. The Fair Market Rent (FMR) for the area, set at $1,050 for the fiscal year 2026, indicates a government benchmark that reflects the economic conditions surrounding affordable housing. In contrast, the actual market rent, measured by Zillow's ZORI index, stands at $781, suggesting a gap between what is considered fair and what the market dictates.
This discrepancy points towards a scenario where supply may be exceeding demand. Landlords offering competitive rents below the FMR suggest they are adjusting to attract tenants in an environment where there might be more units available than renters willing to pay higher rates. Furthermore, the low price-cut share of 0.1% implies that landlords are rarely forced to reduce their asking rents, which could indicate either a stable market or one where competition is driving down the necessity to lower prices.
The median home value of $153,977 provides insight into the overall affordability of the region. This figure suggests that homeownership is accessible to many residents, potentially reducing the number of individuals who must rely on rental properties. However, the 37.1% renter share reveals a significant portion of the population that remains dependent on rentals, which can exert ongoing pressure on the housing market. This percentage highlights a persistent demand for rental units, even if it does not necessarily indicate a shortage.
The dynamics of ZIP 16335 reflect a balanced but somewhat supply-driven market. With a notable number of renters and a median home value that supports homeownership, the area experiences steady demand for both types of housing. Yet, the fact that market rents fall below the FMR and the low rate of price cuts suggest a market where supply is robust enough to meet demand without creating significant upward pressure on rental prices.
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.