Section 8 Fair Market Rent (FMR) for ZIP 18016 - 2027

FY 2027 Fair Market Rent Rates

The Fair Market Rent (FMR) for ZIP code 18016 in Pennsylvania for fiscal year 2024 is set at $1440. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 Housing Choice Voucher program. It's important to note that this is not the actual rent you will receive; it's the benchmark used to determine if the rent you charge is reasonable.

In ZIP 18016, the median rent for non-subsidized properties is currently listed as N/A, which makes direct comparison difficult. However, the percentage of renters in the area who could potentially benefit from the Section 8 program is N/A%. This suggests a significant demand for affordable housing options, indicating that there is a viable market for Section 8 tenants in this area.

The average acquisition cost for properties in this ZIP code is also noted as N/A. This figure is crucial when evaluating whether a property meets the criteria for the Section 8 program, as the cost must be reasonable relative to the local market value.

To proceed confidently with your first Section 8 rental in ZIP 18016, you must verify that the rent you intend to charge does not exceed the $1440 FMR. Additionally, ensure that the property meets all the necessary quality standards and that the acquisition cost aligns with the local real estate values. These steps will help you avoid any issues with the Housing Authority and ensure compliance with the program requirements.

Data Sources: FMR data from HUD (2027).

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.