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 Fair Market Rent (FMR) for ZIP code 16740 in the metro area for fiscal year 2026 is set at $970. This figure represents the maximum amount that a landlord can receive through the Section 8 Housing Choice Voucher program for a unit in this area. It's important to note that this is the payment standard set by the U.S. Department of Housing and Urban Development (HUD), not the actual rent you would charge your tenant.
To put this into perspective, the average rent in ZIP 16740 based on Census ACS data is $667. This means that the FMR is significantly higher than the typical market rate, potentially offering landlords a better return on investment compared to renting without the voucher program.
The renter share in this area is 16.5%, indicating that nearly one in six residents are renters. This suggests a steady demand for rental properties, particularly those participating in the Section 8 program. While the acquisition cost of properties in this area is not available, the high FMR relative to the local average can make up for any potential gaps in purchase price versus market value.
Before deciding to participate in the Section 8 program with a rental property in ZIP 16740, it is crucial to verify that your property meets all the necessary requirements set by HUD. These include ensuring that the unit passes a housing quality standards (HQS) inspection and complies with other regulations to ensure habitability and safety for tenants. Once these conditions are met, the FMR of $970 can provide a reliable income stream for landlords and small-portfolio investors.
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.