Location: Huntingdon County, PA | Metro: Altoona, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 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)
18.2% of residents in ZIP 16693 are renters, indicating a modest demand for rental properties. The Fair Market Rent (FMR) for the area, set at $850 for zip FY 2024, provides a benchmark for what tenants can expect to pay under the Section 8 program. In contrast, the average market rent, according to Census ACS data, stands at $682, suggesting that Section 8 rates are above the local average. Landlords participating in the program can therefore anticipate higher rental incomes compared to the general market. The median home value in the area is $182,016, which offers a point of reference for property values. However, the median income of $62,898 highlights the financial constraints many residents face, making affordable housing options like those provided through Section 8 crucial. Despite the lack of specific data on days on market (DOM) and the percentage of price-cut shares, the economic indicators suggest a stable but not highly lucrative rental market. Given the alignment between Section 8 rates and the local rental landscape, landlords can secure steady tenancy without the risk of frequent vacancies.
The absence of detailed information on DOM and price-cut share does not significantly impact the overall assessment of the ZIP code's suitability for Section 8 participation. With rental rates being lower than the FMR, there is an opportunity for landlords to receive higher payments while still offering affordable housing to tenants. This balance makes Section 8 a viable option for maintaining occupancy in a market where the median income is relatively low. For small-portfolio investors, the potential for stable cash flow and reduced vacancy risks outweighs the limitations posed by the lack of certain metrics. Therefore, the verdict on Section 8 participation in ZIP 16693 is positive, as it aligns well with the local economic conditions and provides a reliable source of income.
850-strong rent floor via Section 8 ensures landlords receive fair compensation, even when market rents hover around $682. This makes the program a solid choice for securing consistent tenancy and income in ZIP 16693.
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.