Location: Clearfield County, PA | Metro: State College, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,090 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,360 |
| 3 Bedrooms | $1,760 |
| 4 Bedrooms | $1,790 |
| 5 Bedrooms | $2,076 |
| 6 Bedrooms | $2,325 |
| 7 Bedrooms | $2,511 |
| 8 Bedrooms | $2,637 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 16860 in fiscal year 2024 is set at $1320. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program. It's important to note that this is not the actual rent you'll receive; rather, it's the payment standard used by the Housing Choice Voucher Program to determine the maximum rent allowed.
In ZIP 16860, the median rent for comparable properties is listed as N/A, which suggests there might be limited data available on typical market rents. However, the FMR of $1320 serves as a guideline for what tenants can afford, based on the voucher program's criteria.
The renter share, which is the portion of the rent that the tenant must pay out-of-pocket, is set at 0.0%. This means the tenant will not have to contribute any money towards the rent, and the entire amount will come from the voucher program. While this might seem appealing, it also indicates that the demand for affordable housing in this area is very high, meaning there could be a long waitlist for vouchers.
To acquire a property in this ZIP code, the average price stands at $165,283. This figure reflects the typical cost of purchasing a rental unit in the area. Given the FMR and the current economic conditions, it's crucial to ensure that your property meets all the necessary requirements for Section 8 eligibility.
Before deciding to enter the Section 8 market with your first rental property in ZIP 16860, verify that your property complies with the Housing Quality Standards (HQS). These standards ensure that the rental unit is safe, decent, and sanitary for occupancy. Failure to meet these standards can result in the rejection of your application by the local housing authority.
In summary, while the FMR of $1320 provides a clear guideline for maximum allowable rent, the absence of local median rent data and the 0.0% renter share suggest a highly competitive environment for both landlords and tenants. The average property price of $165,283 gives an idea of the initial investment required. Ensuring your property meets HQS is a critical step before proceeding with a Section 8 rental in ZIP 16860.
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.