Section 8 Fair Market Rent (FMR) for ZIP 16943 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

A skeptical investor looking at ZIP code 16943 might have several concerns regarding the feasibility of investing in properties there under the Section 8 program. Let's address these concerns directly.

• Objection: Will FMR $1,210 (metro FY 2026) cover the mortgage on a $212,903 home? The Fair Market Rent (FMR) of $1,210 for ZIP 16943 in fiscal year 2026 does provide a baseline for rental income. However, whether this will sufficiently cover the mortgage depends on the interest rate and terms of the loan. Assuming a typical 30-year fixed-rate mortgage with an average interest rate, the monthly mortgage payment for a $212,903 home could be around $950. This means that the FMR of $1,210 would indeed cover the mortgage, leaving some buffer for maintenance and other expenses. Yet, it's important to note that if interest rates rise significantly, the mortgage payment could exceed the FMR, making the investment less viable.
• Objection: Is there enough renter demand at 8.9%? At 8.9%, the percentage of renters in ZIP 16943 indicates a moderate level of demand for rental housing. While this figure suggests a competitive market, it also highlights the need for landlords to ensure their properties meet the criteria for Section 8 eligibility and are well-maintained to attract tenants. The data does not specify the exact number of potential tenants or the vacancy rate, which would give a clearer picture of the competition and demand for affordable housing units. Therefore, while the 8.9% figure is encouraging, it's essential to conduct further research into the local rental market dynamics.
• Objection: Will vouchers keep pace with $860 market rents? The Housing Choice Voucher program aims to subsidize rents up to the FMR, which is set at $1,210. If the market rent is $860, then vouchers should theoretically cover this amount, allowing landlords to participate without significant financial loss. However, the effectiveness of voucher programs can vary based on administrative efficiency and funding levels. There is no guarantee that voucher amounts will increase in line with market rents if they exceed the FMR. Investors should monitor local housing authority policies and federal funding trends to assess the long-term viability of relying on vouchers to maintain rental income levels.

The data available provides a starting point for evaluating the potential of Section 8 investments in ZIP 16943, but it's crucial to consider additional factors such as local economic conditions, property management costs, and the overall health of the rental market.

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.