Location: Warren County, PA | Metro: Forest 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 | $900 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,020 | $71,607 | 1.42% | A |
| 3BR | $1,360 | $92,371 | 1.47% | A |
U.S. Census Bureau data (2024)
The classification of ZIP code 16347, located in Sheffield, PA, can be determined by analyzing its yield and stability metrics. On the yield axis, the Federal Market Rent (FMR) for the metro area in fiscal year 2026 is $1,130, while the market rent stands at $543. This indicates a significant disparity where the FMR far exceeds the market rent, suggesting a potential for higher returns through Section 8 participation. The median home value of $75,220 provides a baseline for investment costs.
Regarding stability, the ZIP code has a relatively low percentage of renters at 14.6%, which could imply a less stable tenant pool. However, the lack of data on days on market (DOM) suggests that there isn't a high turnover rate, which could be beneficial. The median household income of $58,125 provides insight into the economic conditions of the area, indicating that it may support some level of rental demand but is not particularly robust.
Based on these figures, ZIP 16347 appears to be a high-yield/low-stability market. The primary driver for this classification is the substantial difference between the FMR ($1,130) and the market rent ($543), which presents an opportunity for higher cash flow through Section 8 participation. However, the low percentage of renters (14.6%) and modest median income ($58,125) suggest that the rental market might be less stable and could face challenges in maintaining consistent occupancy rates. For landlords and small-portfolio investors, this scenario aligns with a flip-style market strategy, where the focus is on maximizing returns despite the inherent risks associated with lower stability.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.