Location: Crawford County, PA | Metro: Crawford County, PA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
U.S. Census Bureau data (2024)
16.3% of the population in ZIP 16440 are renters, indicating a significant demand for rental properties in the area. However, the average market rent stands at $644, which is notably lower than the Fair Market Rent (FMR) set by HUD for the metro area in fiscal year 2026 at $970. This discrepancy suggests an opportunity for landlords to increase rents without alienating potential tenants, as long as they remain competitive within the local market. The median home value in ZIP 16440 is $152,568, making it an affordable area for both homeowners and investors looking to purchase properties. Given the median income of $77,500, most residents can afford the market rent, but the gap between market rent and FMR provides a buffer for landlords to adjust their pricing strategies.
The lack of data on days on market (DOM) and the percentage of price-cut share indicates either a stable market with little fluctuation in property values or a lack of recent sales activity that could provide insights into the volatility of the housing market. In a stable market, landlords and small-portfolio investors can expect consistent returns on investment without the risk of sudden drops in property value.
In conclusion, the current environment in ZIP 16440 presents a favorable scenario for Section 8 participation, given the alignment between the HUD-set FMR and the ability of the median-income households to meet these requirements. Landlords should consider the benefits of participating in the Section 8 program to ensure steady occupancy and income, leveraging the higher FMR while still being accessible to the majority of the local tenant pool. Verdict: Accept Section 8 tenants.
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.