Location: State College, PA | Metro: State College, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,070 |
| 1 Bedroom | $1,100 |
| 2 Bedrooms | $1,290 |
| 3 Bedrooms | $1,680 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 16882 within the State College, PA MSA reveals mixed prospects for landlords and small-portfolio investors.
The rent math does not clearly favor landlords. The Fair Market Rent (FMR) set at $1320 for FY 2024 provides a benchmark but lacks comparison against the current market rent due to insufficient data. This uncertainty can pose challenges in setting competitive rental rates.
Acquisition appears relatively affordable. With a median home value of $292,161, potential investors have a clear financial anchor. However, without specific data on days on market (DOM) and the percentage of homes that require price cuts, it's difficult to gauge the ease or speed of acquiring properties.
Tenant demand is moderate. The ZIP code has a population of 429, with 12.3% being renters. This indicates a limited pool of potential tenants, which could impact occupancy rates and the ability to quickly fill vacancies.
Verdict: While the acquisition cost is favorable, the lack of market rent data and a small tenant base make ZIP 16882 a cautious investment. Landlords must carefully evaluate the local rental landscape and competition to ensure profitability.
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.