Location: Bedford County, PA | Metro: Altoona, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
U.S. Census Bureau data (2024)
The potential risks for a Section 8 landlord investing in ZIP code 16655 are significant and should be carefully considered. Tenant turnover is a critical issue, with the market rent at $809 being notably lower than the Fair Market Rent (FMR) of $920 for FY 2024. This discrepancy suggests that tenants receiving Section 8 assistance may find it challenging to cover the difference between the market rent and their subsidy, leading to higher turnover rates.
Vacancy exposure is another concern. The Days on Market (DOM) for properties in this area is not available, which can make it difficult to predict how long it might take to fill a vacancy. Given the high renter share of 20.2%, there is a reasonable expectation that finding tenants could be quicker than in areas with fewer renters. However, the lack of DOM data introduces uncertainty into the equation.
Deferred maintenance is also a risk factor. With a typical home value of $201,549 and a median income of $66,823, many residents may struggle to afford necessary repairs and upgrades. This financial strain can lead to properties falling into disrepair, which is particularly problematic for rental properties where the landlord is responsible for maintenance but may not receive the full rent amount due to the Section 8 subsidy structure.
Despite these risks, the high renter density in ZIP 16655 indicates strong demand for rental housing, which often translates into a higher demand for Section 8 vouchers. This robust tenant base can provide a stable source of rental income, albeit at a rate slightly below the FMR. The concentration of renters also implies a potentially larger pool of qualified Section 8 applicants, which can mitigate the risk of vacancies.
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.