Location: Clearfield County, PA | Metro: State College, PA MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,270 | $144,733 | 0.88% | C |
| 3BR | $1,590 | $186,790 | 0.85% | C |
| 4BR | $1,680 | $211,102 | 0.8% | D |
U.S. Census Bureau data (2024)
The ZIP code 16866, encompassing Philipsburg, PA, presents a dynamic housing market influenced by both rental and homeownership trends. The Fair Market Rent (FMR) for ZIP 16866 is set at $1160 for fiscal year 2024, indicating a benchmark for affordable rental units under the Section 8 program. This figure contrasts with the reported market rent of $758, derived from Census ACS data, suggesting that there is a notable gap between what is considered fair market rent and the actual rents being charged.
A median home value of $160,465 places Philipsburg within an affordable range for many potential homeowners. However, the lack of data on price-cut share and days on market (DOM) makes it difficult to definitively state whether supply outpaces demand or vice versa. Nonetheless, the disparity between the FMR and market rent implies a market where demand might be lower relative to supply, as landlords adjust their pricing to attract tenants.
The 33.9% renter share highlights a significant portion of the population that relies on rental housing. This statistic suggests ongoing housing pressure, particularly for those who cannot afford to purchase homes. In the long term, a high renter share can indicate a persistent need for affordable housing solutions, which could benefit landlords and small-portfolio investors looking to capitalize on this demand.
In summary, ZIP 16866's housing market is characterized by affordable home values and rental rates below the FMR, suggesting a balance that favors affordability. The substantial renter share points towards a continued reliance on rental properties, making Philipsburg a viable market for those invested in rental real estate.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.