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 |
U.S. Census Bureau data (2024)
The ZIP code 16675 presents several challenges for landlords considering Section 8 investments. Tenant turnover can be a significant issue, with the Fair Market Rent (FMR) for FY 2024 set at $860, which is lower than the market rent. This disparity can lead to tenants seeking better rental opportunities outside of the voucher program, increasing turnover rates.
Vacancy exposure is another concern. The Days on Market (DOM) figure is currently unavailable, but it's crucial to understand that extended periods of vacancy can impact cash flow negatively. When homes remain vacant longer than average, landlords face a higher risk of financial strain until new tenants are found.
Deferred maintenance poses a substantial threat to property values and tenant satisfaction. With an unknown typical home value and a median income of $40,104, residents might struggle to afford necessary repairs, leading to potential neglect of properties. This situation can result in higher maintenance costs for landlords and may affect the overall appeal of the property to future tenants.
However, these risks are somewhat mitigated by the high concentration of renters in the area, with 7.0% of the population being renter-occupied. High renter density generally indicates a strong demand for housing vouchers, which can stabilize occupancy rates and provide a reliable source of income through the Section 8 program.
In summary, the ZIP code 16675 presents a moderate risk for a first-time Section 8 landlord due to the combination of potential tenant turnover, vacancy exposure, and deferred maintenance issues, offset by a high renter density that supports voucher demand.
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.