Location: Potter County, PA | Metro: Cameron County, PA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 16720 in the metro area for fiscal year 2026 is set at $970. This figure represents the payment standard used by the U.S. Department of Housing and Urban Development (HUD) for the Section 8 Housing Choice Voucher program. It is important to note that this does not necessarily mean your tenant will pay $970; it is the maximum amount HUD will reimburse you for rent. In ZIP 16720, the average local rent is around $800, according to recent Census American Community Survey (ACS) data.
To understand the demand for Section 8 rentals in this area, consider that 17.5% of the population are renters. This indicates a significant portion of the community relies on rental housing, and many of these individuals may qualify for assistance through the Section 8 program. Given the local rent averages and the FMR, there is potential for a steady stream of tenants who can afford the rent with government assistance.
If you are looking to acquire a property in this ZIP code, the median home value is approximately $117,348. This price point should be considered alongside the FMR and local rent trends when evaluating the potential return on investment for a Section 8 rental property. While the initial acquisition cost might seem high, the stability of rental income through the voucher program can provide a reliable financial foundation.
Before finalizing your decision to participate in the Section 8 program with a property in ZIP 16720, ensure you verify the physical condition of the property against HUD’s Housing Quality Standards (HQS). These standards must be met for the property to be eligible for the program, ensuring both safety and habitability for tenants. Once these conditions are satisfied, you can confidently proceed with renting to Section 8 participants knowing that the reimbursement rate is set at a fair market level.
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.