Location: Venango County, PA | Metro: Venango County, PA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,590 |
| 4 Bedrooms | $1,780 |
| 5 Bedrooms | $2,065 |
| 6 Bedrooms | $2,313 |
| 7 Bedrooms | $2,498 |
| 8 Bedrooms | $2,623 |
U.S. Census Bureau data (2024)
The ZIP code 16344 is situated in a small, tight-knit community with a total population of 460 residents. Approximately 29.7% of these residents are renters, indicating a modest but present demand for rental housing. The median household income in this area stands at $58,382, which suggests a middle-class demographic. Notably, the median home value is not available, pointing to a lack of comprehensive data on homeownership in the area.
Moving into the realm of rent economics, the Fair Market Rent (FMR) for ZIP 16344, as determined by the metropolitan area for fiscal year 2026, is set at $1,190. In contrast, the current market rent, according to the Census American Community Survey (ACS), is $953. This discrepancy between the FMR and the actual market rent highlights an opportunity for landlords and small-portfolio investors to potentially capitalize on the higher government-set rates while still remaining competitive in the local market.
Given these economic parameters, ZIP 16344 appears to be more suitable for a hands-off voucher operator rather than a hands-on value-add buyer. The modest size of the community and the relatively low median income suggest limited potential for significant property improvements or renovations to yield substantial returns. Instead, focusing on maintaining properties at a level that meets the requirements for Section 8 vouchers would likely be more profitable and less resource-intensive.
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.