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 |
The analysis of ZIP code 16644 within the Johnstown, PA MSA reveals several key points for landlords and small-portfolio investors.
Regarding the rent math, the Fair Market Rent (FMR) set at $860 for the fiscal year 2024 does not provide a complete picture due to the lack of available market rent data. However, the FMR serves as a benchmark for rental properties that might participate in government-assisted housing programs, such as Section 8. Without comparative market rent figures, it's challenging to determine if this FMR aligns with local market conditions.
In terms of acquisition affordability, the data is incomplete. The median home value, days on market (DOM), and the percentage of homes that required price cuts are all listed as N/A. This absence of data makes it difficult to assess whether purchasing property in ZIP 16644 is financially feasible for investors looking to acquire assets at reasonable prices.
The tenant demand is also unclear due to the missing population and percentage of renters data. These metrics would typically indicate the size of the potential tenant pool and the proportion of residents likely to seek rental accommodations. With this information unavailable, it's impossible to gauge how competitive the rental market might be or the likelihood of finding tenants.
Verdict: Investment in ZIP 16644 based on the provided data presents significant challenges. The Fair Market Rent of $860 is a known figure but lacks context without market rent comparisons. Acquisition costs cannot be accurately assessed due to the absence of critical data points such as median home values and sales trends. Lastly, tenant demand remains speculative without knowledge of the local population and the percentage of renters. Landlords and small-portfolio investors should seek additional, more detailed data before making investment decisions in this area.
Data Sources: FMR data from HUD (2027).
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.