Location: Warren County, PA | Metro: Crawford County, PA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
U.S. Census Bureau data (2024)
The ZIP code 16420 encompasses a small, tight-knit community with a total population of 515 residents. Only 4.9% of these residents are renters, indicating a primarily owner-occupied area. The median household income in this region stands at $53,750, which suggests a middle-class demographic. Despite the lack of data on median home values, it's clear that homeownership is highly prevalent, reflecting a strong sense of community and stability.
From an investment perspective, the Fair Market Rent (FMR) for ZIP 16420 is set at $1,000 per month for fiscal year 2026, based on metro area standards. However, current market rents, according to the Census American Community Survey (ACS), are slightly lower at $975 per month. This indicates a slight premium for properties eligible under the Section 8 program, which could be advantageous for landlords willing to navigate the requirements of the housing assistance program.
The low percentage of renters and the relatively modest median income suggest that this ZIP code might not be ideal for hands-off voucher operators looking for high tenant demand. Instead, it aligns better with hands-on value-add buyers who can identify and capitalize on niche opportunities within a smaller rental market. These investors should focus on properties with potential for improvement that could justify rents closer to the FMR, thereby maximizing returns while still providing affordable housing options.
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.