FMR is below market; voucher rent may lag private rents.
0.73
1 BR
1 BR
0.78ratio
FMR$980
Market$1,250
vs market-$270
FMR is below market; voucher rent may lag private rents.
0.78
2 BR
2 BR
0.83ratio
FMR$1,190
Market$1,440
vs market-$250
FMR is below market; voucher rent may lag private rents.
0.83
3 BR
3 BR
0.87ratio
FMR$1,520
Market$1,740
vs market-$220
FMR is below market; voucher rent may lag private rents.
0.87
4 BR
4 BR
0.77ratio
FMR$1,650
Market$2,140
vs market-$490
FMR is below market; voucher rent may lag private rents.
0.77
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
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ZIP 15123 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 15123 (Allegheny County, PA) is $1,190 a month. That is up 5.3% from $1,130 in FY 2026. Allegheny County is in the Pittsburgh, PA HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 141 ZIP codes in Allegheny County, 15123 is tied for the 111th-highest two-bedroom rent (county range $1,010–$2,080). The median county two-bedroom FMR in Pennsylvania is $1,136, so ZIP 15123 is 5% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 15123
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$870
$920
+5.7%
$828–$1,012
1BR
$940
$980
+4.3%
$882–$1,078
2BR
$1,130
$1,190
+5.3%
$1,071–$1,309
3BR
$1,440
$1,520
+5.6%
$1,368–$1,672
4BR
$1,560
$1,650
+5.8%
$1,485–$1,815
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 15123
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$920
$980
$1,190
$1,520
$1,650
FY 2026
$870
$940
$1,130
$1,440
$1,560
FY 2025
$880
$930
$1,110
$1,420
$1,530
FY 2024
$970
$1,020
$1,230
$1,560
$1,700
FY 2023
$910
$950
$1,150
$1,460
$1,600
Two-bedroom rent in nearby Allegheny County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 15123?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,190, that basic range is $1,071 to $1,309 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is ZIP 15123 in?
ZIP 15123 is in the Pittsburgh, PA HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.
How much did fair market rent change in ZIP 15123 for FY 2027?
The two-bedroom FMR rose 5.3%, from $1,130 in FY 2026 to $1,190 in FY 2027. Since FY 2023 it has risen 3.5%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set