Section 8 Fair Market Rent (FMR) for ZIP 16838 - 2027

Location: Clearfield County, PA | Metro: Clearfield County, PA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$770
1 Bedroom	$850
2 Bedrooms	$1,070
3 Bedrooms	$1,400
4 Bedrooms	$1,410
5 Bedrooms	$1,636
6 Bedrooms	$1,832
7 Bedrooms	$1,979
8 Bedrooms	$2,078

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,821

Median Household Income

$57,917

Housing Units

929

Renter Percentage

21.9%

Occupancy Rate

84.5%

Renter Occupied

172

When considering whether to invest in ZIP code 16838 for Section 8 properties, follow this decision tree:

Step 1: Debt Service Coverage Ratio (DSCR)

The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,020. To determine if this amount clears the debt service on a property valued at $133,705, calculate the DSCR. If the monthly rental income ($1,020) is sufficient to cover the mortgage payments and other expenses associated with owning the property, proceed to Step 2. Otherwise, the answer is No.

Step 2: Market Rent vs. FMR

The Census American Community Survey (ACS) indicates that the average market rent in ZIP 16838 is $920. Compare this figure to the FMR of $1,020. Since the market rent is below the FMR, landlords can potentially charge closer to the FMR for Section 8 tenants. This makes the investment more attractive. Proceed to Step 3.

Step 3: Demand Analysis

In ZIP 16838, 21.9% of residents are renters. However, the data does not specify the days on the market (DOM), making it difficult to assess the speed at which units are rented. Given the renter percentage, there is a moderate level of demand. The next step is to consider the competition and vacancy rates.

If vacancy rates are low and competition among landlords is high, the answer is Yes. The current demand supports Section 8 investments, and the higher FMR compared to market rent offers an advantage.
If vacancy rates are high and competition is low, the answer is It Depends. While the FMR is favorable, the slow rental market could pose challenges. Consider the local economy and employment trends to make a final decision.
If vacancy rates and competition levels are unknown, the answer is It Depends. Additional research into the local rental market conditions is necessary before proceeding.

To summarize, if the FMR covers the debt service, the market rent is below the FMR, and there is sufficient demand, the investment in ZIP 16838 for Section 8 properties is viable. Always verify local economic factors and rental market dynamics for a comprehensive analysis.

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.