Location: Clearfield County, 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 analysis of ZIP code 16646 in Clearfield County, PA reveals mixed prospects for landlords and small-portfolio investors. The first question to address is whether the rent math works. The Fair Market Rent (FMR) set at $850 for the fiscal year 2024 contrasts sharply with the market rent of $613 based on Census ACS data. This discrepancy suggests that landlords might struggle to find tenants willing to pay the higher FMR rate, as the actual market conditions indicate a lower willingness to pay.
Regarding the affordability of property acquisitions, the median home value stands at $109,073, which is relatively low compared to other areas. However, due to the lack of data on days on market (DOM) and the percentage of homes requiring price cuts, it's challenging to assess how quickly properties can be sold or if they often require significant price reductions. This incomplete picture leaves some uncertainty about the ease and profitability of acquiring new rental properties in this area.
The third consideration is tenant demand. With a total population of 2,185, only 9.0% are renters. This small share of the population indicates limited demand for rental properties, suggesting that competition among landlords could be high, and finding tenants might be difficult. Additionally, the low renter share implies that the majority of residents prefer homeownership, further reducing the pool of potential renters.
In summary, the rent math does not favor landlords in ZIP 16646, given the substantial gap between the FMR and the actual market rent. Acquisition costs appear manageable with a median home value of $109,073, but without detailed DOM and price-cut data, the ease of selling properties remains uncertain. Lastly, the low renter share of 9.0% points to weak tenant demand, making it a less attractive investment opportunity. Overall, the evidence suggests that this area is not ideal for those seeking to maximize returns through rental properties.
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.