Section 8 Fair Market Rent (FMR) for ZIP 16370 - 2027

Location: Forest County, PA | Metro: Forest County, PA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$750
1 Bedroom	$840
2 Bedrooms	$1,010
3 Bedrooms	$1,310
4 Bedrooms	$1,480
5 Bedrooms	$1,717
6 Bedrooms	$1,923
7 Bedrooms	$2,077
8 Bedrooms	$2,181

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

215

Median Household Income

$35,833

Housing Units

323

Renter Percentage

N/A

Occupancy Rate

22.3%

Renter Occupied

The ZIP code 16370, located in Venango County, Pennsylvania, is a rural area characterized by its low population density and primarily residential use. The region offers a quiet living environment with limited commercial activity, which significantly influences the local rental market.

The Fair Market Rent (FMR) for a two-bedroom apartment in the metro area for fiscal year 2026 is set at $970, indicating a modest rental price point.
Market rent data is currently unavailable, suggesting that the rental market in this area is either too sparse or not well-documented to provide reliable averages.
No median home value data is available, which could be due to the lack of recent sales data in this sparsely populated area.
Renters make up only 0.0% of the housing stock, showing that the area is dominated by homeowners rather than renters.
The Days on Market (DOM) data is also not available, possibly reflecting a slow or inactive real estate market in terms of property turnover.
The median household income stands at $35,833, which is below the national average and may limit the disposable income available for higher rents.

The analysis suggests that investing in rental properties within ZIP 16370 is likely to be challenging due to the dominance of homeownership and the limited demand for rentals. Landlords should expect modest rental income opportunities, as reflected by the FMR figures, and be prepared for a potentially sluggish property market where sales and rental turnovers are infrequent. Given the lower median income, setting rental prices above the FMR could deter potential tenants, making it crucial to price competitively to attract the few renters in the area.

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.