Location: Venango County, PA | Metro: Clarion 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 | $800 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,380 | $222,809 | 0.62% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 16364 is set at $1,080 for the fiscal year 2026. This figure represents the payment standard for landlords participating in the Section 8 Housing Choice Voucher program, meaning the government will pay up to this amount on behalf of eligible tenants. However, it's important to note that this does not directly represent your potential rent income; rather, it's the maximum subsidy amount.
To understand the local rental market, consider that the average rent in ZIP 16364 is $922, based on recent Census Bureau data. This indicates that the FMR is slightly higher than the typical market rate, which can be beneficial for landlords as it may cover costs that exceed the local average.
Renters make up 11.6% of the population in this area, showing a steady demand for rental properties. While this percentage might seem low, it translates into a significant number of potential tenants who could benefit from Section 8 vouchers.
When acquiring a property for Section 8, you should be aware that the median home value in ZIP 16364 is around $201,104. This figure helps in assessing the initial investment required for a property that you might convert into a Section 8 rental.
A key verification step before committing to a Section 8 rental is to ensure that the property meets the Housing Quality Standards (HQS). These standards are set by the Department of Housing and Urban Development (HUD) and must be met to qualify for the program. This involves an inspection to confirm that the property is safe, decent, and sanitary for tenants.
In summary, the FMR of $1,080 provides a benchmark for subsidies that can help cover your rental costs, while the local average of $922 gives insight into the typical market rates. With an 11.6% renter share and a median home value of $201,104, there is a solid foundation for demand and investment. Before proceeding, verify that your property meets the necessary HQS requirements to avoid any delays or disqualifications.
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.