16563

ZIPSAFMR

Erie County, PA

ZIP Investment Score

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$760	$840	-1.3%
1 BR	$860	$910	1.6%
2 BR	$1,100	$1,100	0.9%
3 BR	$1,360	$1,430	0.5%
4 BR	$1,580	$1,500	2.7%
5 BR	$1,817	Not available	2.7%
6 BR	$2,090	Not available	2.7%
7 BR	$2,403	Not available	2.7%
8 BR	$2,763	Not available	2.7%

Purchase Price Calculator

Maximum purchase price

$101,543

Cost breakdown

+Likely effective rent$1,100

HUD FMR$1,100

Market rent$1,100

Est. payment standard (100%)Used$1,100

-Principal and interest-$513

Loan amount$81,234

Down payment$20,309

Rate6.50%

Term30 years

-Operating costs-$387

Property taxes-$102

Insurance-$175

Utilities$0

HOA$0

Management-$110

=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

+$17,918(88.2% ROI)

Projected value

$109,351

Return breakdown

Property appreciation+$7,808

Loan principal paid down+$2,910

Rental cash flow+$7,200

5-year hold

+$30,534(150.3% ROI)

Projected value

$114,887

Return breakdown

Property appreciation+$13,344

Loan principal paid down+$5,190

Rental cash flow+$12,000

10-year hold

+$64,808(319.1% ROI)

Projected value

$129,984

Return breakdown

Property appreciation+$28,441

Loan principal paid down+$12,367

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

0.82ratio

FMR$760

Market$930

vs market-$170

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

0.82

1 BR

0.91ratio

FMR$860

Market$940

vs market-$80

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

0.91

2 BR

1.00ratio

FMR$1,100

Market$1,100

vs market+$0

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

1.00

3 BR

0.93ratio

FMR$1,360

Market$1,460

vs market-$100

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

0.93

4 BR

1.05ratio

FMR$1,580

Market$1,500

vs market+$80

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

1.05

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 16563 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 16563 (Erie, PA) is $1,100 a month. That is down 9.8% from $1,220 in FY 2026. Erie 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, 16563 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 16563 is 3% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 16563
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$840	$760	−9.5%	$684–$836
1BR	$950	$860	−9.5%	$774–$946
2BR	$1,220	$1,100	−9.8%	$990–$1,210
3BR	$1,510	$1,360	−9.9%	$1,224–$1,496
4BR	$1,690	$1,580	−6.5%	$1,422–$1,738

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 16563
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$760	$860	$1,100	$1,360	$1,580
FY 2026	$840	$950	$1,220	$1,510	$1,690
FY 2025	$820	$900	$1,170	$1,460	$1,580
FY 2024	$790	$820	$1,070	$1,340	$1,460
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. 16563
16509	$1,270	+15.5%
16510	$1,100	0.0%
16511	$1,210	+10.0%
16512	$1,100	0.0%
16514	$1,100	0.0%
16515	$1,100	0.0%
16541	$1,100	0.0%
16544	$1,100	0.0%
16546	$1,200	+9.1%
16550	$1,100	0.0%
16563Current	$1,100	—
16565	$1,100	0.0%

Questions about ZIP 16563 rents

How much will Section 8 pay for a two-bedroom in ZIP 16563?

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 16563 in?

ZIP 16563 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 16563 for FY 2027?

The two-bedroom FMR fell 9.8%, from $1,220 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 Erie, PA fair market rent PA statewide rents What is SAFMR?Data sources