Location: Clearfield County, PA | Metro: Johnstown, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $980 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,660 |
| 4 Bedrooms | $1,720 |
| 5 Bedrooms | $1,995 |
| 6 Bedrooms | $2,234 |
| 7 Bedrooms | $2,413 |
| 8 Bedrooms | $2,534 |
U.S. Census Bureau data (2024)
The real estate market in ZIP code 16640 presents a unique scenario for both landlords and small-portfolio investors, primarily anchored by the median home value of $85,796. This figure suggests a relatively affordable market, which can be attractive for investors looking to enter with lower capital requirements. However, the lack of data on the percentage of listings that have been reduced and the median days on market (DOM) indicates a stable pricing environment without significant fluctuations or distress sales.
On the rental side, the Fair Market Rent (FMR) for ZIP 16640 is set at $990 for the fiscal year 2024. Without comparative market data, it's clear that the FMR serves as a benchmark for rental rates in the area. This can be particularly useful for landlords who want to ensure their properties remain competitive and profitable. The affordability of homes coupled with a defined rental rate can provide a steady income stream for those who choose to lease rather than sell their properties.
For long-term investors, the setup in ZIP 16640 implies a market where appreciation might be modest but reliable. Given the median home value and the stable pricing environment, there is little evidence to suggest a rapid increase in property values. Instead, the market signals a consistent growth trajectory, aligning with broader economic trends and local demand. Long-hold investors should focus on maintaining their properties and leveraging rental income to build wealth over time.
A key consideration for investors is the balance between owning multiple units and single-family homes. Single-family homes offer the potential for higher appreciation and can be a better fit for those looking to eventually sell. On the other hand, multi-unit properties can generate substantial rental income, which is crucial given the FMR of $990. Investors should weigh these options based on their financial goals and risk tolerance.
In summary, ZIP 16640 offers an accessible entry point into real estate investment with a median home value of $85,796. The stable pricing environment and defined rental benchmarks support a strategy focused on long-term appreciation and rental income generation. Landlords and small-portfolio investors can expect a predictable market with opportunities for steady returns.
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.