Location: Johnstown, PA | Metro: Altoona, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $910 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,590 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
1080 is the Fair Market Rent (FMR) for ZIP code 16613 as of fiscal year 2024, indicating the maximum rental assistance payment standard set by HUD. 625 is the average market rent reported by the Census Bureau's American Community Survey, which is significantly below the FMR, suggesting a favorable environment for landlords participating in the Section 8 program. 141,768 represents the median home value in this area, providing insight into the local real estate market's overall health and potential investment opportunities. 5.6% is the proportion of households that are renters, highlighting the demand for rental properties in ZIP 16613. 73,785 is the median income level, which is important for understanding the financial capacity of potential tenants and the overall economic stability of the area. N/A indicates that there is no available data on the days on market (DOM) for properties in this ZIP code, possibly due to limited recent sales activity or data reporting issues. Similarly, N/A reflects the absence of information regarding the percentage of homes that have had their prices cut, which could suggest that the housing market is relatively stable without significant price adjustments.
The disparity between the $1080 FMR and the $625 market rent suggests that landlords can potentially receive higher rents through the Section 8 program compared to the local market rates. This makes ZIP 16613 an attractive option for those looking to leverage the program to increase rental income. The median home value of $141,768 also points to a moderate cost of living, which aligns well with the median income of $73,785, ensuring that tenants can afford the rents without being overly burdened. Given the 5.6% renter share, it's evident that there is a steady demand for rental units, making the area suitable for long-term investments.
Section 8 verdict: ZIP 16613 presents a strong opportunity for landlords and small-portfolio investors due to favorable FMRs and stable market conditions.
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.