FMR is near market; voucher and private rents are aligned.
1.01
2 BR
2 BR
0.76ratio
FMR$1,700
Market$2,240
vs market-$540
FMR is below market; voucher rent may lag private rents.
0.76
3 BR
3 BR
0.93ratio
FMR$2,190
Market$2,350
vs market-$160
FMR is near market; voucher and private rents are aligned.
0.93
4 BR
4 BR
0.64ratio
FMR$2,230
Market$3,480
vs market-$1,250
FMR is below market; voucher rent may lag private rents.
0.64
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 16802 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 16802 (University Park, PA) is $1,700 a month. That is up 9.7% from $1,550 in FY 2026. University Park is in the State College, 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 $1,537. Among 36 ZIP codes in Centre County, 16802 has the 2nd-highest two-bedroom rent (county range $1,270–$1,730). The median county two-bedroom FMR in Pennsylvania is $1,136, so ZIP 16802 is 50% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 16802
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,300
$1,410
+8.5%
$1,269–$1,551
1BR
$1,310
$1,420
+8.4%
$1,278–$1,562
2BR
$1,550
$1,700
+9.7%
$1,530–$1,870
3BR
$1,940
$2,190
+12.9%
$1,971–$2,409
4BR
$2,050
$2,230
+8.8%
$2,007–$2,453
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 16802
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,410
$1,420
$1,700
$2,190
$2,230
FY 2026
$1,300
$1,310
$1,550
$1,940
$2,050
FY 2025
$1,360
$1,360
$1,580
$1,930
$2,100
FY 2024
$1,230
$1,250
$1,450
$1,750
$1,930
FY 2023
$1,100
$1,120
$1,290
$1,580
$1,730
Two-bedroom rent in nearby Centre County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 16802?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,537, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,383 to $1,691 a month; under the ZIP-level Small Area FMR of $1,700 it would be $1,530 to $1,870. 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 16802 in?
ZIP 16802 is in the State College, PA MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,537.
How much did fair market rent change in ZIP 16802 for FY 2027?
The two-bedroom FMR rose 9.7%, from $1,550 in FY 2026 to $1,700 in FY 2027. Since FY 2023 it has risen 31.8%.
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