FMR is near market; voucher and private rents are aligned.
0.97
1 BR
1 BR
1.07ratio
FMR$853
Market$800
vs market+$53
FMR is near market; voucher and private rents are aligned.
1.07
2 BR
2 BR
1.06ratio
FMR$1,014
Market$960
vs market+$54
FMR is near market; voucher and private rents are aligned.
1.06
3 BR
3 BR
1.27ratio
FMR$1,395
Market$1,100
vs market+$295
FMR is above market; underwrite to market rent.
1.27
4 BR
4 BR
1.30ratio
FMR$1,532
Market$1,180
vs market+$352
FMR is above market; underwrite to market rent.
1.30
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
--
ZIP 16388 fair market rent, FY 2027
For FY 2027, HUD's Fair Market Rent for a two-bedroom unit in ZIP 16388 (Meadville, PA) is $1,014 a month. That is up 4.2% from $973 in FY 2026. Meadville is in the Crawford County, PA non-metropolitan FMR area. One county-wide FMR applies to every ZIP code in it. The median county two-bedroom FMR in Pennsylvania is $1,136, so ZIP 16388 is 11% below it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 16388
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$723
$780
+7.9%
$702–$858
1BR
$787
$853
+8.4%
$768–$938
2BR
$973
$1,014
+4.2%
$913–$1,115
3BR
$1,306
$1,395
+6.8%
$1,256–$1,535
4BR
$1,476
$1,532
+3.8%
$1,379–$1,685
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 16388
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$780
$853
$1,014
$1,395
$1,532
FY 2026
$723
$787
$973
$1,306
$1,476
FY 2025
$694
$713
$908
$1,184
$1,357
FY 2024
$631
$651
$845
$1,083
$1,274
FY 2023
$607
$638
$821
$1,041
$1,224
Questions about ZIP 16388 rents
How much will Section 8 pay for a two-bedroom in ZIP 16388?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,014, that basic range is $913 to $1,115 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 16388 in?
ZIP 16388 is in the Crawford County, PA non-metropolitan FMR area.
How much did fair market rent change in ZIP 16388 for FY 2027?
The two-bedroom FMR rose 4.2%, from $973 in FY 2026 to $1,014 in FY 2027. Since FY 2023 it has risen 23.5%.
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 Fair Market Rents. 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