Location: Clearfield County, PA | Metro: Johnstown, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
U.S. Census Bureau data (2024)
In ZIP code 16639, there are several potential pitfalls for landlords considering participation in the Section 8 program. Tenant turnover is a significant risk, with market rents at $716 compared to the Fair Market Rent (FMR) of $900 for FY 2024. This disparity can lead to higher tenant mobility as individuals seek to maximize their voucher benefits, potentially resulting in frequent vacancies. The vacancy exposure is heightened due to the lack of data on days on market (DOM), which suggests that landlords may struggle to predict how long it will take to fill an empty unit. Additionally, the deferred maintenance risk is considerable given the typical home value of $97,789 and a median income of $75,165. Landlords must be prepared to invest in property upkeep without a corresponding increase in rental income, as voucher holders typically cannot pay above the set rent limits.
However, these risks are somewhat mitigated by the high concentration of renters in the area, represented by a 5.7% renter share. High renter density often correlates with a robust demand for housing vouchers, which can stabilize occupancy rates over time. Despite the challenges posed by the financial dynamics and maintenance requirements, the consistent demand for affordable housing can provide a steady stream of tenants for landlords willing to navigate the intricacies of the Section 8 program.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.