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 |
The voucher payment standard of $980 reflects the maximum amount the federal government will pay for rental housing in the area. This figure is critical because it indicates the financial support available to low-income families seeking housing.
Without precise data on median income and market rate rents, it's challenging to determine if a household in ZIP 16850 can afford the market rate. However, given the FMR benchmark, landlords should consider setting their rents close to or below this threshold to attract voucher recipients. Higher rents could make housing unaffordable for many residents, especially those relying on vouchers.
The affordability gap, which is the difference between the market rate rent and what residents can afford, plays a significant role in landlord competition. If the market rate rent significantly exceeds the FMR, landlords who accept vouchers might find themselves competing with fewer properties, thus potentially securing tenants more easily. Conversely, landlords who set higher rents risk facing a more competitive market where affordability is a key concern.
Takeaway: For landlords considering whether to adopt a voucher versus cash-pay strategy, the $980 FMR serves as an important guideline. Accepting vouchers can reduce competition from other landlords and provide a steady stream of tenants. However, landlords should also assess the local market dynamics and the willingness of residents to pay above the voucher limit. Setting rents near the FMR can balance accessibility with profitability, ensuring a stable occupancy rate while remaining competitive.
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.