Not enough rental comps in this area to determine how FMR aligns with current market rates.
Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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ZIP 15488 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 15488 (Waltersburg, PA) is $1,210 a month. That is up 10.0% from $1,100 in FY 2026. Waltersburg 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 68 ZIP codes in Fayette County, 15488 is tied for the 18th-highest two-bedroom rent (county range $1,010–$1,730). The median county two-bedroom FMR in Pennsylvania is $1,136, so ZIP 15488 is 7% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 15488
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$850
$940
+10.6%
$846–$1,034
1BR
$910
$1,000
+9.9%
$900–$1,100
2BR
$1,100
$1,210
+10.0%
$1,089–$1,331
3BR
$1,410
$1,540
+9.2%
$1,386–$1,694
4BR
$1,510
$1,680
+11.3%
$1,512–$1,848
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 15488
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$940
$1,000
$1,210
$1,540
$1,680
FY 2026
$850
$910
$1,100
$1,410
$1,510
FY 2025
$790
$840
$1,010
$1,290
$1,390
FY 2024
$740
$780
$940
$1,190
$1,300
FY 2023
$700
$740
$890
$1,130
$1,240
Two-bedroom rent in nearby Fayette County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 15488?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,210, that basic range is $1,089 to $1,331 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 15488 in?
ZIP 15488 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 15488 for FY 2027?
The two-bedroom FMR rose 10.0%, from $1,100 in FY 2026 to $1,210 in FY 2027. Since FY 2023 it has risen 36.0%.
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