Section 8 Fair Market Rent (FMR) for ZIP 16845 - 2027

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

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

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,010

Median Household Income

$72,770

Housing Units

389

Renter Percentage

8.5%

Occupancy Rate

75.6%

Renter Occupied

Housing Authorities Serving ZIP 16845

Centre County Housing Authority (Bellefonte, PA) - 709 Section 8 vouchers
HOUSING AUTHORITY OF THE CITY OF DUBOIS (Du Bois, PA) - 197 Section 8 vouchers
CLEARFIELD COUNTY HOUSING AUTHORITY (Clearfield, PA) - 126 Section 8 vouchers

The ZIP code 16845, located in Venango County, Pennsylvania, is a region characterized by its rural charm and modest economic profile. It offers a unique opportunity for real estate investors looking to enter a market that is less competitive compared to urban areas, yet still presents viable investment opportunities.

The Fair Market Rent (FMR) for a one-bedroom apartment in ZIP 16845 for fiscal year 2024 is set at $1160, indicating a steady demand for affordable housing options.
The market rent, as reported by the Census American Community Survey, stands at $675 for a similar unit, suggesting that there is room for price increases to align with the FMR, which could benefit landlords and investors.
The median home value in the area is $126,685, making it an attractive option for those seeking to invest in properties at a lower initial cost compared to more affluent regions.
Renters make up 8.5% of the housing market in ZIP 16845, showing a smaller but still significant rental population that landlords can cater to.
The median income for residents in the area is $72,770, providing insight into the financial capabilities of potential tenants and buyers.

Investors should consider these points when evaluating the potential of ZIP 16845. The gap between the current market rent and the FMR suggests a possible increase in rental prices, which can enhance returns on investment. The relatively low median home value indicates a lower barrier to entry for purchasing properties. However, the smaller share of renters means a narrower tenant pool, which might require strategic targeting of affordable housing units. Given the median income, it's reasonable to expect that tenants can afford higher rents, aligning with the FMR, thus making rental investments more profitable over time. For those willing to adapt their strategies to the local market conditions, ZIP 16845 presents a balanced opportunity for growth and stability in real estate investments.

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.