Section 8 Fair Market Rent (FMR) for ZIP 16701 - 2026

Market Analysis for ZIP 16701

Cities Covered: This ZIP code covers Bradford.

FMR Rates (FY 2026):
Studio: $720 | 1BR: $850 | 2BR: $990 | 3BR: $1,240 | 4BR: $1,470

Median Property Prices & 1% Rule Analysis:

• 2BR Properties: Median price ~$95,000
  1% Rule: $990 ÷ $95,000 = 0.89% 👎 Below 1% Rule
• 3BR Properties: Median price ~$125,000
  1% Rule: $1,240 ÷ $125,000 = 0.79% 👎 Below 1% Rule

Market Overview: Bradford’s 16701 ZIP code serves a population of about 10,000 residents. Families comprise 35%, professionals 25%, students 20% (many at Pennsylvania College of Art & Design), and service workers 20%. Vacancy is 3.9% and year‑over‑year rent growth is 4–6%. Drivers include the university, local manufacturing, and tourism. The market is in a growth phase with a 1.2% population increase. Cash flow is moderate; the 1% rule is not met, but 6–8% gross yields are attainable on 2BR units at $990/month and 7–9% on 3BR units at $1,240/month. Appreciation trends 3–4% annually, offering moderate upside.

Investment Takeaway: Investment Takeaway: Target $90‑110k purchase price for 2BR units to achieve gross yields of 6–8% when rents reach $990/month. 3BR units at $1,240/month generate 7–9% gross yield in the $120‑140k range. Turnkey properties remain best; light rehab can increase rents. Allocate 10–12% of purchase price annually for maintenance, taxes, and vacancy reserve. Focus on 2BR units, as the student market drives demand. 3BR units are viable for families seeking larger space. Cash flow is reliable, and the moderate 3–4% appreciation adds upside.

Key Considerations: Key Considerations: Cash‑flow driven market with moderate appreciation. Tenant screening: credit ≥650, income ≥3× rent, student verification. Budget 8–10% maintenance, 5% vacancy, 1.5–2% taxes. Risks: tenant turnover, seasonal demand from student population, aging infrastructure. Professional management at 8–10% of rent recommended. Expected appreciation 3–4% yearly.