Location: Venango County, PA | Metro: Venango 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 | $710 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $141,377 | 0.71% | D |
| 3BR | $1,290 | $185,328 | 0.7% | D |
| 4BR | $1,440 | $210,503 | 0.68% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 16346, Seneca, PA, is set at $970 for the fiscal year 2026. This figure represents the payment standard for landlords participating in the Section 8 Housing Choice Voucher program. It is important to note that this does not necessarily reflect the actual rent you can charge tenants; it is the maximum amount that the housing authority will pay on behalf of the tenant.
In comparison, the average rent for ZIP 16346 based on Census American Community Survey (ACS) data is $719. This suggests that the FMR is higher than the typical market rate, which could be beneficial for landlords looking to cover their costs and potentially earn a profit.
The renter share in Seneca, PA, stands at 32.5%. This indicates that over one-third of the households in the area are renters, creating a steady demand for rental properties. Given this demand, a Section 8 rental can be a viable option for those looking to invest in the local market.
When considering purchasing a property for a Section 8 rental, the median home value in ZIP 16346 is approximately $166,488. This figure helps potential investors understand the acquisition cost and can be used to calculate the potential return on investment once the property is rented out under the Section 8 program.
Before proceeding with your first Section 8 rental, it is crucial to verify that the property meets all the necessary quality standards set by the local housing authority. These standards ensure that the living conditions are safe and habitable for tenants. Compliance with these requirements is non-negotiable and ensures that you receive the guaranteed payments from the housing authority.
To summarize, the FMR of $970 provides a benchmark for the maximum subsidy payment, while the local average rent of $719 offers insight into market conditions. With a renter share of 32.5%, there is a significant demand for rental units. The median home value of $166,488 gives an idea of the initial investment needed. However, the most critical step is confirming that your property meets the housing authority's quality standards to secure a stable income stream through the Section 8 program.
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.