Location: Johnstown, PA | Metro: Johnstown, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
U.S. Census Bureau data (2024)
The HUD Fair Market Rent (FMR) for ZIP code 16624 in Johnstown, PA MSA for FY 2024 is set at $850 for a one-bedroom unit. Comparatively, the typical market rent for a one-bedroom in this area is $904/month, indicating that voucher tenants would cashflow marginally at the FMR level. This suggests that landlords should expect to cover some expenses with their own funds unless they can secure premium units that command higher rents.
The median home value in ZIP code 16624 is $155,200, which is significantly below the national median house value of $338,100. This lower median home value creates a favorable rent-to-price ratio, making it easier for investors to generate positive cash flow from rental properties. Given the current market conditions, landlords might find that the cost of ownership for single-family homes is relatively low compared to the rent they can charge, even if it's just slightly above the FMR.
The data does not provide a specific number of days for median Days on Market (DOM) or the percentage of homes that had their price cut, but these metrics are typically less relevant for rental property investors. Instead, the focus should be on the stability and growth potential of the rental market in ZIP 16624. The recent increase in rents by 17.8% over the past year signals a robust rental market, which could translate into consistent cash flow for investors.
The strongest investor angle in ZIP code 16624 is cashflow, given the relatively low median home values and the modestly higher market rents compared to the FMR. This makes it an attractive area for those looking to invest in rental properties without the risk of significant price cuts or extended marketing periods.
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.