Location: Clearfield County, PA | Metro: Clearfield County, PA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
U.S. Census Bureau data (2024)
In ZIP code 16833, the median income stands at $65,809. Given the market rate for rent at $695, it becomes evident that the average household here struggles to afford housing based on the Census ACS data. This discrepancy highlights a significant affordability gap where the median income falls below the required threshold for comfortable housing expenditure.
The voucher payment standard set at $970 for Fair Market Rent (FMR) in the metro area for fiscal year 2026 further complicates the situation. It suggests that the federal government considers a higher rental cost to be fair compared to what local incomes can support. The disparity between the $695 market rate and the $970 FMR indicates that landlords who accept vouchers might find themselves with a smaller pool of eligible tenants, as many households cannot meet the voucher's income requirements.
With only 17.9% of the 5,021 population being renters, competition among landlords is likely to be fierce. The limited number of renters means that landlords must carefully consider their tenant selection strategies to ensure a steady stream of income. Accepting vouchers could provide a stable source of income, but it also means adhering to government regulations and potentially dealing with lower rental rates than the market would otherwise bear.
The takeaway for landlords is clear: while accepting vouchers can secure long-term tenants and avoid vacancy, it may not maximize rental income. Cash-paying tenants, though fewer in number, offer the potential for higher rents closer to the market rate. Landlords should weigh these factors, considering both the stability vouchers provide and the financial benefits of attracting cash-paying tenants who can afford the higher market rates despite the local income constraints.
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.