Section 8 Fair Market Rent (FMR) for ZIP 16413 - 2027

FY 2027 Fair Market Rent Rates

The Fair Market Rent (FMR) for ZIP code 16413 in Pennsylvania for fiscal year 2024 is set at $980. This figure represents the maximum amount that a landlord can receive through the Section 8 Housing Choice Voucher program for renting a unit in this area. It's important to note that this is not the actual rent you will charge your tenants; rather, it's the payment standard used by the housing authority to determine the subsidy amount.

The local median rent for ZIP 16413 is currently listed as N/A, which makes direct comparison challenging. However, the N/A% of residents who rely on rental assistance indicates a significant portion of the population may be seeking subsidized housing options. This suggests a potential demand for Section 8 rentals in the area.

When acquiring a property for a Section 8 rental, the average cost is also marked as N/A. This could mean that there isn't enough data to provide an accurate figure, or it might reflect the variability in property values across different neighborhoods within the ZIP code. Regardless, it's crucial to conduct thorough research on property values in the specific neighborhood where you plan to invest.

Before deciding to pull the trigger on your first Section 8 rental, ensure you verify the following: the condition of the property must meet the minimum housing quality standards (MHQS) required by the housing authority. These standards cover a wide range of criteria including health and safety, and failure to comply can result in reduced payments or even termination of the contract.

Data Sources: FMR data from HUD (2027).

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.