Location: Clearfield County, PA | Metro: Clearfield County, PA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
U.S. Census Bureau data (2024)
The ZIP code 16671 presents an interesting scenario for both renters and landlords. The median household income stands at $78,750, which places financial constraints on the ability of residents to afford the market rate rent of $810. This figure is derived directly from the Census American Community Survey (ACS), offering a reliable snapshot of current rental costs.
Comparatively, the Fair Market Rent (FMR) set for metro areas in fiscal year 2026 is higher at $970. This discrepancy between the market rate and the FMR highlights a significant affordability gap for potential renters. Households earning the median income would find it challenging to meet the FMR, especially when considering other living expenses and financial responsibilities.
With only 7.5% of the 411-person population renting, the competition among landlords is relatively low. However, this also means there is a limited pool of potential tenants, making it crucial for landlords to understand the financial landscape and adjust their strategies accordingly.
For landlords, the decision between accepting voucher payments versus relying on cash-paying tenants should be carefully considered. While the FMR at $970 exceeds the market rate, voucher payments are typically lower, often around the market rate of $810. Accepting vouchers could provide a steady stream of income and access to a government-backed payment system, mitigating the risk of non-payment. On the other hand, cash-paying tenants might offer slightly higher rents but come with the uncertainty of financial stability.
The takeaway is that landlords in ZIP 16671 should be prepared to adapt their strategies based on the economic realities faced by local renters. Given the affordability gap and the low percentage of renters, focusing on attracting voucher holders could be a viable approach to ensure occupancy and stable income. However, landlords should also be open to adjusting rents downward if necessary to compete effectively in this niche rental market.
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.