Section 8 Fair Market Rent (FMR) for ZIP 16749 - 2027

Location: McKean County, PA | Metro: McKean County, PA

FY 2027 Fair Market Rent Rates

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

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

3,777

Median Household Income

$72,250

Housing Units

2,211

Renter Percentage

17.6%

Occupancy Rate

72.4%

Renter Occupied

281

The ZIP code 16749, located in Venango County, Pennsylvania, is a region characterized by its rural charm and proximity to natural resources, which can influence the local real estate market. The area offers a mix of rental properties and homeownership opportunities, catering to a diverse range of residents.

The Fair Market Rent (FMR) for a two-bedroom apartment in the metro area for fiscal year 2026 is set at $980, indicating a stable demand for affordable housing options.
The market rent, according to the Census American Community Survey, stands at $777, reflecting a lower cost of living compared to urban centers but still within reach for many families.
The median home value in ZIP 16749 is $126,313, making it an attractive option for first-time buyers and investors looking for entry-level property values.
Renters make up 17.6% of the population, suggesting a moderate rental market that could be influenced by local job growth and migration trends.
The median income in the area is $72,250, providing insight into the financial capacity of potential tenants and buyers.
While the days on market (DOM) data is currently unavailable, the combination of reasonable rents and home values indicates a steady market for both rentals and sales.

In summary, ZIP 16749 presents a balanced real estate investment opportunity. With a median home value significantly below national averages and a fair market rent that aligns well with the median income, there is a strong foundation for both rental and homeowner investments. The moderate rental market share suggests ongoing demand, while the lower market rent points to a region where affordability is key. Investors should consider these factors alongside any future economic developments in the area to maximize their returns.

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.