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)
In ZIP code 16731, the real estate landscape presents a unique set of conditions that landlords and small-portfolio investors should consider when evaluating their investment strategies. The median home value stands at $111,041, indicating a relatively affordable market. However, the absence of data on the percentage of listings that have been reduced and the median days on market (DOM) suggests a stable market with little fluctuation in recent sales activity.
The forward-looking market analysis for this area is anchored by the current pricing power, which is likely to remain strong over the next 12-24 months. This strength is derived from the fact that the median home value has not shown signs of significant reduction, implying that demand remains steady relative to supply. While the exact percentage of reduced listings and DOM is not available, the lack of such reductions indicates that sellers are holding firm on their asking prices, which can be advantageous for landlords who are looking to maintain or increase rental yields.
On the rent side, the Federal Market Rent (FMR) for the metro area in fiscal year 2026 is projected to be $970, while the current market rent, according to Census ACS data, is $693. This significant gap between the FMR and the current market rent suggests that there is room for rental price increases. Landlords can potentially adjust their rents upwards to align more closely with the FMR, thereby improving their cash flow and investment returns.
For long-hold investors, the realistic appreciation thesis in ZIP 16731 is tied to the broader economic trends affecting the region. With the current median home value and the potential for rental prices to rise towards the FMR, the setup implies that property values could also appreciate over time. However, without specific historical data on appreciation rates, it is important to note that any increase in property value will depend on factors such as job growth, population changes, and improvements in local infrastructure.
Investors should also be mindful of the potential risks associated with an area where significant data points are missing. A stable market can quickly shift if external factors change, such as a downturn in the local economy or changes in housing policies. Nonetheless, the combination of a stable median home value and the potential for rental price increases provides a solid foundation for those seeking to hold properties long-term.
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.