| Unit Size | FY 2026 FMR |
|---|---|
| Studio (0 Bedroom) | $710 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,440 |
Location: Elk County, PA
Metro Area: Elk County, PA
Explore Section 8 payment standards in neighboring areas:
Cities Covered: This ZIP code covers James City.
FMR Rates (FY 2026):
Studio: $710 | 1BR: $830 | 2BR: $970 | 3BR: $1,220 | 4BR: $1,440
Median Property Prices & 1% Rule Analysis:
Market Overview: James City’s 16734 ZIP code covers a population of about 1,050 in Elk County. Renter demographics here are 45% families, 28% retirees, 17% service workers, and 10% students. Vacancy rates are 4.5%, indicating a balanced market. Rent growth averaged 2.7% over the last year, supported by stable employment at the county hospital and a growing retiree community. Market drivers include proximity to the Pennsylvania State Game Lands and a modest tourism sector. The market is in a stable growth phase, yielding reliable cash flow and modest appreciation of about 2.5% per year. Low property values relative to rent provide attractive 1% rule opportunities for disciplined investors.
Investment Takeaway: Target 2‑BR acquisitions between $95,000 and $125,000 to achieve gross yields of 8–9%, and 3‑BR units between $115,000 and $155,000 for 7–8% yield. Aim for rents of $970–$1,020/month for 2‑BR and $1,220–$1,270/month for 3‑BR. Light rehab or turnkey strategies are recommended to maintain high occupancy. Allocate 10% of purchase price annually for maintenance, 5% for vacancy reserves, and 1.8% for taxes. Focus on properties within 5 miles of the county hospital and high‑school to attract stable tenants.
Key Considerations: Cash‑flow oriented with 2–3% appreciation. Screen tenants with credit scores ≥650, income ≥3× rent, and reference checks. Budget 10% for maintenance, 5% for vacancy, 1.8% for taxes, and 8% of rent for management if needed. Dominant risks include tenant turnover and deferred maintenance on older homes. Professional management can mitigate vacancy risk but adds 8–10% of rent. Conservative financing and a robust reserve fund are essential.