Location: McKean County, PA | Metro: McKean County, PA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 16724 in McKean County, Pennsylvania, reveals several key points that are crucial for landlords and small-portfolio investors.
The rent math does not work favorably due to the lack of available market rent data. The Fair Market Rent (FMR) for the area is set at $980 for fiscal year 2026. Without comparative market rent figures, it's challenging to assess the profitability directly; however, reliance on FMR alone might not cover all operational costs for rental properties.
Regarding acquisition affordability, the absence of specific data on median home values, days on market (DOM), and the percentage of homes needing price reductions makes it difficult to provide a concrete assessment. This gap in information suggests that further research into local real estate trends and pricing is necessary before making investment decisions.
Tenant demand is relatively low in ZIP 16724. With a total population of 69 and only 16.0% of residents being renters, the pool of potential tenants is quite limited. This demographic characteristic implies that landlords may face challenges in finding and retaining tenants, which could impact long-term occupancy rates.
Verdict: Investing in ZIP 16724 presents significant risks due to limited tenant demand and the unavailability of critical data such as market rents, median home values, and real estate transaction dynamics. Landlords should proceed with caution and conduct thorough due diligence to understand the local rental market better before committing to property acquisitions in this area. The FMR of $980 is the only reliable figure provided, but it must be balanced against the low number of potential renters and the uncertainty surrounding property acquisition costs.
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.