16413

ZIPSAFMR

Erie County, PA

ZIP Investment Score

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$760	$840	1.8%
1 BR	$860	$900	4.7%
2 BR	$1,100	$970	3.9%
3 BR	$1,350	$1,180	3.4%
4 BR	$1,600	$1,160	6.1%
5 BR	$1,840	Not available	6.1%
6 BR	$2,116	Not available	6.1%
7 BR	$2,433	Not available	6.1%
8 BR	$2,798	Not available	6.1%

Purchase Price Calculator

Maximum purchase price

$82,225

Cost breakdown

+Likely effective rent$970

HUD FMR$1,100

Market rentUsed$970

Est. payment standard (92%)$1,020

-Principal and interest-$416

Loan amount$65,780

Down payment$16,445

Rate6.50%

Term30 years

-Operating costs-$354

Property taxes-$82

Insurance-$175

Utilities$0

HOA$0

Management-$97

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$15,879(96.6% ROI)

Projected value

$88,547

Return breakdown

Property appreciation+$6,322

Loan principal paid down+$2,357

Rental cash flow+$7,200

5-year hold

+$27,008(164.2% ROI)

Projected value

$93,030

Return breakdown

Property appreciation+$10,805

Loan principal paid down+$4,203

Rental cash flow+$12,000

10-year hold

+$57,044(346.9% ROI)

Projected value

$105,255

Return breakdown

Property appreciation+$23,030

Loan principal paid down+$10,014

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

0.81ratio

FMR$760

Market$940

vs market-$180

FMR is below market; voucher rent may lag private rents.

0.81

1 BR

0.93ratio

FMR$860

Market$920

vs market-$60

FMR is near market; voucher and private rents are aligned.

0.93

2 BR

1.13ratio

FMR$1,100

Market$970

vs market+$130

FMR is above market; underwrite to market rent.

1.13

3 BR

1.14ratio

FMR$1,350

Market$1,180

vs market+$170

FMR is above market; underwrite to market rent.

1.14

4 BR

1.38ratio

FMR$1,600

Market$1,160

vs market+$440

FMR is above market; underwrite to market rent.

1.38

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 16413 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 16413 (Elgin, PA) is $1,100 a month. That is down 9.1% from $1,210 in FY 2026. Elgin is in the Erie, PA MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,091. Among 43 ZIP codes in Erie County, 16413 is tied for the 16th-highest two-bedroom rent (county range $1,100–$1,600). The median county two-bedroom FMR in Pennsylvania is $1,136, so ZIP 16413 is 3% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 16413
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$830	$760	−8.4%	$684–$836
1BR	$940	$860	−8.5%	$774–$946
2BR	$1,210	$1,100	−9.1%	$990–$1,210
3BR	$1,500	$1,350	−10.0%	$1,215–$1,485
4BR	$1,680	$1,600	−4.8%	$1,440–$1,760

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 16413
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$760	$860	$1,100	$1,350	$1,600
FY 2026	$830	$940	$1,210	$1,500	$1,680
FY 2025	$780	$860	$1,120	$1,390	$1,510
FY 2024	$720	$750	$980	$1,220	$1,340
FY 2023	$710	$730	$950	$1,180	$1,310

Two-bedroom rent in nearby Erie County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 16413
16401	$1,100	0.0%
16403	$1,100	0.0%
16407	$1,100	0.0%
16410	$1,110	+0.9%
16411	$1,240	+12.7%
16412	$1,100	0.0%
16413Current	$1,100	—
16415	$1,570	+42.7%
16417	$1,100	0.0%
16421	$1,100	0.0%
16423	$1,100	0.0%
16426	$1,130	+2.7%

Questions about ZIP 16413 rents

How much will Section 8 pay for a two-bedroom in ZIP 16413?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,091, which applies unless the housing authority uses Small Area FMRs, that basic range is $982 to $1,200 a month; under the ZIP-level Small Area FMR of $1,100 it would be $990 to $1,210. 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 16413 in?

ZIP 16413 is in the Erie, PA MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,091.

How much did fair market rent change in ZIP 16413 for FY 2027?

The two-bedroom FMR fell 9.1%, from $1,210 in FY 2026 to $1,100 in FY 2027. Since FY 2023 it has risen 15.8%.

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 rent Elgin, PA fair market rent PA statewide rents What is SAFMR?Data sources