Section 8 Fair Market Rent (FMR) for ZIP 16942 - 2027

Location: Tioga County, PA | Metro: Tioga County, PA

FY 2027 Fair Market Rent Rates

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

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

892

Median Household Income

$53,250

Housing Units

392

Renter Percentage

18.6%

Occupancy Rate

84.9%

Renter Occupied

Housing Authorities Serving ZIP 16942

Bradford County Housing Authority (Mansfield, PA) - 264 Section 8 vouchers
Tioga County Housing Authority (Mansfield, PA) - 213 Section 8 vouchers

A landlord considering ZIP code 16942 for Section 8 investments must follow a structured decision-making process based on the following criteria:

1) Does the Fair Market Rent (FMR) of $970 cover the debt service on a property valued at $160,761?

No. The FMR of $970 does not sufficiently cover the debt service for a property priced at $160,761. This indicates that the investment would likely result in financial losses, as the rental income would be insufficient to meet the mortgage payments and other associated costs.

2) How does the market rent of $822 compare to the FMR?

Below FMR. The market rent of $822 is lower than the FMR of $970. This suggests that while the property could potentially be rented out at a higher rate due to Section 8 subsidies, it also implies that there might be challenges in finding tenants willing to pay the market rent without the subsidy. Landlords should consider the possibility of relying heavily on Section 8 vouchers to fill vacancies.

3) Is the combination of 18.6% of residents being renters and the unknown days on market (DOM) indicative of sufficient demand?

It depends. With 18.6% of the population being renters, the demand for rental properties is present but not overwhelming. However, the lack of data regarding the days on market (DOM) makes it difficult to assess how quickly properties are typically leased in this area. Landlords must consider the potential for longer vacancy periods which can affect cash flow and profitability.

In summary, investing in ZIP 16942 for Section 8 purposes requires careful consideration. The FMR does not clear the debt service on a property valued at $160,761, indicating immediate financial concerns. Additionally, the market rent being below the FMR suggests reliance on Section 8 subsidies. While there is some demand for rentals, the absence of DOM data introduces uncertainty into the equation. For landlords who are willing to accept these conditions and have a tolerance for lower returns, there may still be opportunities. However, those seeking high-yield investments should look elsewhere.

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.