FMR is near market; voucher and private rents are aligned.
0.91
1 BR
1 BR
0.98ratio
FMR$1,220
Market$1,250
vs market-$30
FMR is near market; voucher and private rents are aligned.
0.98
2 BR
2 BR
1.03ratio
FMR$1,480
Market$1,440
vs market+$40
FMR is near market; voucher and private rents are aligned.
1.03
3 BR
3 BR
1.09ratio
FMR$1,890
Market$1,740
vs market+$150
FMR is near market; voucher and private rents are aligned.
1.09
4 BR
4 BR
0.96ratio
FMR$2,050
Market$2,140
vs market-$90
FMR is near market; voucher and private rents are aligned.
0.96
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 15240 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 15240 (Pittsburgh, PA) is $1,480 a month. That is up 6.5% 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, 15240 is tied for the 45th-highest two-bedroom rent (county range $1,010–$2,080). The median county two-bedroom FMR in Pennsylvania is $1,136, so ZIP 15240 is 30% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 15240
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,070
$1,150
+7.5%
$1,035–$1,265
1BR
$1,150
$1,220
+6.1%
$1,098–$1,342
2BR
$1,390
$1,480
+6.5%
$1,332–$1,628
3BR
$1,780
$1,890
+6.2%
$1,701–$2,079
4BR
$1,910
$2,050
+7.3%
$1,845–$2,255
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 15240
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,150
$1,220
$1,480
$1,890
$2,050
FY 2026
$1,070
$1,150
$1,390
$1,780
$1,910
FY 2025
$1,060
$1,130
$1,360
$1,730
$1,870
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 15240?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,480, that basic range is $1,332 to $1,628 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 15240 in?
ZIP 15240 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 15240 for FY 2027?
The two-bedroom FMR rose 6.5%, from $1,390 in FY 2026 to $1,480 in FY 2027. Since FY 2023 it has risen 28.7%.
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