ZIP 16701 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 16701 in the McKean County, PA FMR area.

McKean County, PA

$750Efficiency

$9001 bedroom

$1,0202 bedrooms

$1,2403 bedrooms

$1,5304 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$750	$675	$825	$749
1 bedroom	$900	$810	$990	$891
2 bedrooms	$1,020	$918	$1,122	$1,014
3 bedrooms	$1,240	$1,116	$1,364	$1,232
4 bedrooms	$1,530	$1,377	$1,683	$1,521

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Warren County, PA

$750Efficiency

$9001 bedroom

$1,0202 bedrooms

$1,2403 bedrooms

$1,5304 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$750	$675	$825	$839
1 bedroom	$900	$810	$990	$844
2 bedrooms	$1,020	$918	$1,122	$1,014
3 bedrooms	$1,240	$1,116	$1,364	$1,349
4 bedrooms	$1,530	$1,377	$1,683	$1,446

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Income in ZIP 16701

$58,410average adjusted gross income per tax return (2022)

$40,666average salaries and wages per return

7,240tax returns filed

21%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	32.6%
$25,000 to $50,000	27.5%
$50,000 to $75,000	15.3%
$75,000 to $100,000	9.5%
$100,000 to $200,000	12.6%
$200,000 or more	2.5%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 16.3% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 16701?

HUD's FY2027 Small Area FMRs for ZIP 16701 (McKean County, PA) are $750 efficiency, $900 one bedroom, $1,020 two bedrooms, $1,240 three and $1,530 four bedrooms.

What payment standard can a housing authority set in ZIP 16701?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $918 to $1,122.

How affordable is rent in ZIP 16701?

Tax returns filed from ZIP 16701 reported an average adjusted gross income of $58,410 (2022). A two-bedroom unit at the Small Area FMR costs $12,240 a year, or 21% of that income.