Section 8 Fair Market Rent (FMR) for ZIP 16832 - 2027

Location: State College, PA | Metro: State College, PA MSA

Investment Score for ZIP 16832

N/A

Monthly Rent (2BR)

$1,270

Median Price (2BR)

$N/A

1% Rule

Annual Yield

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,070
1 Bedroom	$1,080
2 Bedrooms	$1,270
3 Bedrooms	$1,590
4 Bedrooms	$1,680
5 Bedrooms	$1,949
6 Bedrooms	$2,183
7 Bedrooms	$2,358
8 Bedrooms	$2,476

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$1,590	$249,443	0.64%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

224

Median Household Income

$38,456

Housing Units

218

Renter Percentage

N/A

Occupancy Rate

45.4%

Renter Occupied

The ZIP code 16832, located in Venango County, Pennsylvania, is a rural area characterized by its low population density and primarily residential nature. The region offers a mix of suburban and small-town living, appealing to those seeking a quieter lifestyle away from urban centers.

The Fair Market Rent (FMR) for ZIP 16832 is set at $1160 per month for fiscal year 2024, providing a benchmark for rental pricing.
Market rent data is currently unavailable, which may indicate limited demand or supply for rental properties in the area.
The median home value stands at $243,543, suggesting that homeownership is relatively affordable compared to larger metropolitan areas.
Rental share in the area is 0.0%, indicating that virtually all residents are homeowners rather than renters.
The days on market (DOM) for properties is not available, potentially due to a lack of recent transactions or listings in the area.
The median household income is $38,456, which could influence the ability of potential tenants to afford higher rents.

Given the data points, it's evident that ZIP 16832 leans heavily towards homeownership, with little to no presence of renters. This makes it less attractive for landlords and small-portfolio investors looking to capitalize on rental demand. However, the low median home values and fair market rent figures suggest that the area remains affordable for first-time buyers and those looking to invest in property with long-term appreciation potential. Investors should be cautious about relying solely on rental income, as the market appears to favor homeownership over renting. Instead, focus on the stability and potential growth in property values as a key investment strategy.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.