Location: Tioga County, PA | Metro: Tioga County, PA
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 | $710 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,350 |
| 5 Bedrooms | $1,566 |
| 6 Bedrooms | $1,754 |
| 7 Bedrooms | $1,894 |
| 8 Bedrooms | $1,989 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $109,308 | 0.92% | C |
| 3BR | $1,290 | $154,196 | 0.84% | C |
| 4BR | $1,350 | $156,662 | 0.86% | C |
U.S. Census Bureau data (2024)
The rent math in ZIP 16920, located in Elkland, PA, within the Tioga County, PA metro area, does not currently work in favor of landlords. The Fair Market Rent (FMR) for the fiscal year 2026 is set at $970, which is higher than the current market rent of $837 based on Census ACS data. This discrepancy suggests that landlords may struggle to cover costs and maintain profitability at the current market rate.
Acquisition of properties in this ZIP code is relatively affordable, with a median home value of $128,346. However, due to the lack of available data on days on market (DOM) and the percentage of homes that have experienced price cuts, it's challenging to gauge the current housing market dynamics accurately. Landlords should proceed with caution, considering these unknowns might impact the ease and cost of acquiring new rental properties.
Tenant demand in ZIP 16920 is moderate. With a total population of 1,760 and a renter share of 23.5%, there is a steady but not overwhelming number of potential tenants. This means landlords can expect a reasonable pool of applicants, though competition for tenants may be fierce given the relatively low renter share.
In conclusion, while the acquisition cost in ZIP 16920 is favorable for landlords and small-portfolio investors, the current market rent falls below the FMR, making it difficult to achieve optimal profitability. Tenant demand is present but limited, necessitating careful management to attract and retain renters. Given these factors, investment in this ZIP code should be approached with a realistic understanding of the financial challenges and opportunities.
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.