Location: Crawford County, PA | Metro: Crawford County, PA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $920 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,640 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP code 16404 presents a nuanced picture for both landlords and small-portfolio investors. With a median home value at $164,891, the area remains accessible for entry-level buyers and renters. The fact that the percentage of listings reduced is not available suggests a stable market where sellers are not feeling pressured to lower their asking prices, indicating a certain level of pricing power for landlords and property owners.
The median days on market (DOM) figure being unavailable could imply that homes are selling quickly, which further supports the idea of a robust demand. In such an environment, landlords can maintain competitive rental rates without fear of vacancy. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is projected to be $1,090, while the current market rate stands at $987 according to the Census ACS. This gap signals potential for rent increases, aligning with the expected FMR trajectory.
For long-term investors, the setup in ZIP 16404 offers a realistic appreciation thesis. Given the steady median home value and the projected increase in rental rates, it's reasonable to expect gradual growth in property values. However, the absence of specific historical trends and the lack of recent reductions in listing prices mean that rapid appreciation is unlikely. Instead, the market appears poised for moderate growth, making it a solid choice for those looking to build a portfolio with consistent returns.
Landlords should capitalize on the current rental rates, which are below the projected FMR. By gradually adjusting rents to match the anticipated FMR, they can ensure a steady income stream and potentially higher property values down the line. Small-portfolio investors should consider the balance between short-term rental yields and long-term capital appreciation, recognizing that while quick gains might be limited, the overall trend points towards a favorable investment climate.
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.