Location: State College, PA | Metro: State College, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,280 |
| 1 Bedroom | $1,280 |
| 2 Bedrooms | $1,540 |
| 3 Bedrooms | $1,980 |
| 4 Bedrooms | $2,020 |
| 5 Bedrooms | $2,343 |
| 6 Bedrooms | $2,624 |
| 7 Bedrooms | $2,834 |
| 8 Bedrooms | $2,976 |
The ZIP code 16804 in State College, PA, stands out due to limited available demographic data, which includes the number of residents, percentage renting, median income, and median home value. This scarcity of information can be attributed to the small size of the area or recent changes in the community that have yet to be fully captured in public records.
Moving to the specifics of Section 8 housing economics, the Fair Market Rent (FMR) for ZIP 16804 for fiscal year 2024 is set at $1320. This figure represents the maximum amount a landlord can charge for a rental unit to participate in the Section 8 program. However, without specific market rent data for comparison, it's challenging to assess how competitive or advantageous this rate is for landlords.
In terms of stability, the lack of detailed historical data makes it difficult to categorize the economic environment of ZIP 16804 as either stable or transitional. Typically, an area with a stable economy would show consistent trends over time in population growth, income levels, and housing values. Conversely, a transitional area might exhibit rapid changes in these metrics. Given the incomplete data, landlords and small-portfolio investors should conduct further research to understand local market dynamics and make informed decisions.
To summarize, while the Fair Market Rent provides a benchmark for Section 8 participation, the absence of comprehensive demographic and market rent data means that landlords must rely on additional sources to gauge the potential benefits and risks of renting properties in ZIP 16804.
Data Sources: FMR data from HUD (2027).
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.