Location: Johnstown, PA | Metro: Altoona, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,080 |
| 1 Bedroom | $1,140 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,860 |
| 4 Bedrooms | $2,000 |
| 5 Bedrooms | $2,320 |
| 6 Bedrooms | $2,598 |
| 7 Bedrooms | $2,806 |
| 8 Bedrooms | $2,946 |
U.S. Census Bureau data (2024)
89,821 The median income in ZIP code 16636 is $89,821, which provides a baseline for understanding the financial capabilities of potential tenants.
3.4% Renter share stands at 3.4%, indicating that a small portion of the population in this area rents their homes, which could suggest limited demand for rental properties.
N/A The median home value is not available, which might imply that homeownership is less common or that there isn't enough data to determine an average.
N/A There's also no data on days on market (DOM), making it difficult to assess how quickly rental units typically get filled in this area.
$1310 The Fair Market Rent (FMR) for ZIP code 16636 is set at $1310 for fiscal year 2024, providing a benchmark for rental pricing for Section 8 eligible households.
$975 Market rent, as reported by the Census American Community Survey, is $975, suggesting that the actual rental rates in the area are below the FMR.
N/A Without a percentage for the price-cut share, it's unclear how often landlords need to reduce their asking price to attract tenants.
1310 In ZIP 16636, landlords can expect to receive up to $1310 per month through the Section 8 program, though this amount is subject to unit size and other factors.
975 Current market rents being lower than the FMR indicates that landlords participating in Section 8 can potentially charge closer to the higher FMR rate, maximizing their income.
89,821 With the median income at $89,821, it's likely that many residents in this area have sufficient means to cover the difference between the market rent and the FMR if they are not fully covered by Section 8 benefits.
1310 For landlords in ZIP 16636, the Section 8 program offers a reliable source of income, with the guarantee of receiving the $1310 FMR, which helps mitigate risks associated with tenant payments.
975 Given the discrepancy between the FMR and the market rent, there is a potential opportunity for landlords to slightly increase their rental rates while still remaining competitive in the local market.
3.4% However, with only 3.4% of the population renting, landlords should be prepared for a smaller pool of potential tenants and possibly longer vacancy periods.
1310 Despite the challenges, the $1310 FMR represents a stable income source for landlords willing to participate in the Section 8 program, ensuring consistent cash flow.
89,821 While the median income suggests financial stability among residents, the lack of detailed data on DOM and price-cut shares leaves some uncertainty about the ease of finding and retaining tenants.
1310 A landlord in ZIP 16636 should consider the Section 8 program as a viable option, especially if seeking a guaranteed and stable income stream, despite the relatively low renter share.
Section 8 Verdict: Suitable for landlords seeking stable income, but prepare for a smaller tenant pool.
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.