Location: Warren County, PA | Metro: Erie, PA MSA
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 | $760 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,100 | $135,933 | 0.81% | C |
| 3BR | $1,350 | $167,465 | 0.81% | C |
| 4BR | $1,520 | $178,493 | 0.85% | C |
| 5BR | $1,763 | $209,365 | 0.84% | C |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 16407, Corry, Pennsylvania, in fiscal year 2024 is set at $890. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program, known officially as the Housing Choice Voucher Program. It's important to note that this is not the rent you will receive; it's the payment standard used to calculate the subsidy for eligible tenants.
To put this into perspective, the average rent in Corry, according to the latest Census American Community Survey (ACS) data, is around $800. This means that if you participate in the Section 8 program, your rent might be slightly higher than the market average, but still within a reasonable range. The FMR is designed to ensure that rents are affordable and competitive with the local market rates.
In Corry, about 24.5% of residents are renters. This indicates a moderate level of rental demand in the area. While this percentage isn't exceptionally high, it does suggest there is a steady pool of potential tenants who might benefit from the Section 8 program.
If you're considering purchasing a property to use as a Section 8 rental, the median home value in Corry is approximately $150,308. This can help guide your investment decisions, ensuring you acquire a property that fits within your budget and aligns with the local market conditions.
Before finalizing your decision to enter the Section 8 market, it's crucial to verify that the property meets all the required standards. The Housing Authority will inspect the unit to ensure it complies with the Housing Quality Standards (HQS), which cover safety, health, and habitability criteria. Failure to meet these standards can result in rejection, so it's wise to conduct a preliminary inspection yourself or hire a professional to do so.
By participating in the Section 8 program, you can provide affordable housing options while receiving stable rental income. The FMR of $890 sets a clear boundary for what you can charge, making it easier to manage expectations and plan your finances accordingly. With an understanding of the local rental market and the specific requirements, you can make an informed decision about your first Section 8 rental in Corry, PA.
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.