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Centre County/Centre Hall/16828

16828

ZIPSAFMR
Centre County, PA
Zillow

ZIP Investment Score

78Below average

095130300
BRFMR
Eff. Rent
0 BR$1,070$1,170
1 BR$1,080$1,180
2 BR$1,290$1,420
3 BR$1,660$1,740
4 BR$1,700$1,860
5 BR$1,955Not available
6 BR$2,248Not available
7 BR$2,585Not available
8 BR$2,973Not available

Purchase Price Calculator

Maximum purchase price
$149,095

Cost breakdown

+Likely effective rent$1,420
HUD FMR$1,290
Market rent$1,520
Est. payment standard (110%)Used$1,420
-Principal and interest-$754
Loan amount$119,276
Down payment$29,819
Rate6.50%
Term30 years
-Operating costs-$466
Property taxes-$149
Insurance-$175
Utilities$0
HOA$0
Management-$142
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$22,937(76.9% ROI)
Projected value
$160,559
Return breakdown
Property appreciation+$11,464
Loan principal paid down+$4,273
Rental cash flow+$7,200
5-year hold
+$39,213(131.5% ROI)
Projected value
$168,687
Return breakdown
Property appreciation+$19,592
Loan principal paid down+$7,621
Rental cash flow+$12,000
10-year hold
+$83,918(281.4% ROI)
Projected value
$190,854
Return breakdown
Property appreciation+$41,759
Loan principal paid down+$18,158
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.87
1 BR
0.88
2 BR
0.85
3 BR
0.93
4 BR
0.88
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 16828 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 16828 (Centre Hall, PA) is $1,290 a month. That is unchanged from FY 2026. Centre Hall 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, 16828 is tied for the 16th-highest two-bedroom rent (county range $1,270–$1,730). The median county two-bedroom FMR in Pennsylvania is $1,136, so ZIP 16828 is 14% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 16828
BedroomsFY 2027Change90–110% range
Studio$1,070−3.6%$963–$1,177
1BR$1,080−3.6%$972–$1,188
2BR$1,2900.0%$1,161–$1,419
3BR$1,660+5.7%$1,494–$1,826
4BR$1,700−0.6%$1,530–$1,870

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 16828
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,070$1,080$1,290$1,660$1,700
FY 2026$1,110$1,120$1,290$1,570$1,710
FY 2025$1,060$1,070$1,240$1,510$1,640
FY 2024$1,000$1,010$1,170$1,420$1,560
FY 2023$980$990$1,150$1,410$1,540

Two-bedroom rent in nearby Centre County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 16828
16820$1,430+10.9%
16822$1,270−1.6%
16823$1,330+3.1%
16826$1,270−1.6%
16827$1,600+24.0%
16828Current$1,290—
16829$1,270−1.6%
16832$1,270−1.6%
16835$1,320+2.3%
16841$1,270−1.6%
16844$1,270−1.6%
16845$1,270−1.6%

Questions about ZIP 16828 rents

How much will Section 8 pay for a two-bedroom in ZIP 16828?

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 $1,290 it would be $1,161 to $1,419. 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 16828 in?

ZIP 16828 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 16828 for FY 2027?

The two-bedroom FMR was unchanged at $1,290 in FY 2027. Since FY 2023 it has risen 12.2%.

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 rentCentre Hall, PA fair market rentPA statewide rentsWhat is SAFMR?Data sources