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Allegheny County/Pittsburgh/15204

15204

ZIPSAFMR
Allegheny County, PA
Zillow

ZIP Investment Score

144High yield potential

095130300
BRFMR
Eff. Rent
0 BR$1,130$1,080
1 BR$1,200$1,030
2 BR$1,460$1,170
3 BR$1,860$1,380
4 BR$2,020$1,580
5 BR$2,323Not available
6 BR$2,671Not available
7 BR$3,072Not available
8 BR$3,533Not available

Purchase Price Calculator

Maximum purchase price
$111,945

Cost breakdown

+Likely effective rent$1,170
HUD FMR$1,460
Market rentUsed$1,170
Est. payment standard (90%)$1,310
-Principal and interest-$566
Loan amount$89,556
Down payment$22,389
Rate6.50%
Term30 years
-Operating costs-$404
Property taxes-$112
Insurance-$175
Utilities$0
HOA$0
Management-$117
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$19,016(84.9% ROI)
Projected value
$120,553
Return breakdown
Property appreciation+$8,608
Loan principal paid down+$3,209
Rental cash flow+$7,200
5-year hold
+$32,432(144.9% ROI)
Projected value
$126,656
Return breakdown
Property appreciation+$14,710
Loan principal paid down+$5,722
Rental cash flow+$12,000
10-year hold
+$68,988(308.1% ROI)
Projected value
$143,299
Return breakdown
Property appreciation+$31,354
Loan principal paid down+$13,634
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.05
1 BR
1.17
2 BR
1.25
3 BR
1.35
4 BR
1.28
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 15204 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 15204 (Pittsburgh, PA) is $1,460 a month. That is up 5.0% from $1,390 in FY 2026. Pittsburgh 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, 15204 is tied for the 68th-highest two-bedroom rent (county range $1,010–$2,080). The median county two-bedroom FMR in Pennsylvania is $1,136, so ZIP 15204 is 29% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 15204
BedroomsFY 2027Change90–110% range
Studio$1,130+5.6%$1,017–$1,243
1BR$1,200+4.3%$1,080–$1,320
2BR$1,460+5.0%$1,314–$1,606
3BR$1,860+4.5%$1,674–$2,046
4BR$2,020+5.8%$1,818–$2,222

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 15204
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,130$1,200$1,460$1,860$2,020
FY 2026$1,070$1,150$1,390$1,780$1,910
FY 2025$1,020$1,090$1,310$1,670$1,800
FY 2024$940$990$1,190$1,510$1,640
FY 2023$910$950$1,150$1,460$1,600

Two-bedroom rent in nearby Allegheny County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 15204
15201$1,990+36.3%
15202$1,510+3.4%
15203$1,940+32.9%
15204Current$1,460—
15205$1,610+10.3%
15206$1,790+22.6%
15207$1,450−0.7%
15208$1,570+7.5%
15209$1,360−6.8%
15210$1,430−2.1%
15211$1,770+21.2%
15212$1,540+5.5%

Questions about ZIP 15204 rents

How much will Section 8 pay for a two-bedroom in ZIP 15204?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,460, that basic range is $1,314 to $1,606 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 15204 in?

ZIP 15204 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 15204 for FY 2027?

The two-bedroom FMR rose 5.0%, from $1,390 in FY 2026 to $1,460 in FY 2027. Since FY 2023 it has risen 27.0%.

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

County fair market rentPittsburgh, PA fair market rentPA statewide rentsWhat is SAFMR?Data sources