Section 8 Fair Market Rent (FMR) for ZIP 17215 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

A decision tree for evaluating whether to purchase a property in ZIP code 17215 for Section 8 investment hinges on three primary factors: the Fair Market Rent (FMR), the relationship between market rent and FMR, and the rental demand. Let's break down these factors.

1. Does the FMR of $1,020 cover the debt service on a property priced at $183,737?

• Yes: If the FMR of $1,020 is sufficient to meet the debt service requirements, it indicates that a landlord can potentially secure a stable income source. This is critical for ensuring that the investment does not result in financial loss.
• No: If the FMR does not cover the debt service, then purchasing a property for Section 8 purposes in ZIP 17215 would be financially unwise. Landlords must ensure that their rental income exceeds the cost of maintaining the property and servicing any debts associated with the purchase.

2. Is the market rent above, at, or below the FMR?

The data provided indicates that the market rent is N/A, which suggests there is insufficient information to determine the relationship between market rent and FMR. To make an informed decision:

• It Depends: Without specific market rent data, landlords cannot accurately assess whether they will be able to command rents above or at the FMR. This uncertainty means that further investigation into local rental trends is necessary before making a final decision.

3. Are the 11.3% renters combined with N/A-day Days on Market (DOM) indicative of sufficient demand?

• Yes: If the DOM is low, it implies that properties are rented quickly, indicating strong demand. However, the DOM figure is currently unavailable. Assuming a low DOM, the 11.3% of the population renting could still support a viable Section 8 investment if the turnover rate is high.
• No: A high DOM would suggest weak demand, meaning properties take longer to rent out. If the DOM is notably high, despite the 11.3% of renters, it might indicate that the area is not ideal for a Section 8 investment.
• It Depends: The current lack of DOM data means that landlords need to research the local rental market to understand how quickly properties are typically leased. This will help determine if there is enough demand to support a Section 8 investment.

To summarize, landlords should first verify if the FMR of $1,020 can cover the debt service on a $183,737 property. Next, they need to investigate the market rent to see if it aligns favorably with the FMR. Lastly, understanding the DOM will clarify the rental demand. These steps will guide landlords toward a sound decision regarding Section 8 investments in ZIP 17215.

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.