Real Estate Investing in Fayette City, Pennsylvania (15438)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 15438 (Fayette City, PA)? Our answer, based on the numbers below.
Mixed — values have been flat. OK for long-horizon buyers, less attractive if you may need to sell soon.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- Elevated vacancy: 8.6% vacancy may signal weakening demand.
- Flat appreciation: Values have barely moved over 5 years (0.3% CAGR).
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Fayette City, PA (15438)?
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Market Analysis: 15438 Fayette City
The 15438 ZIP covers a section of Fayette City that demands careful diligence. Prices near $124K look accessible, but the work to make a deal cash flow is real.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $124K asset, 15438 is the wrong submarket. If the plan prices in friction, the yield can still work.
Nearby ZIPs in Fayette City have seen price recovery that 15438 has not matched. Fayette County data supports the view that the spread is structural rather than temporary.
The 15438 ZIP's population of 2,011 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that reflects the need for careful underwriting.
Strategically, 15438 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Fayette City:
Property Strategy for 15438
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $82,230 | $970 | 8.5% | +5.3% | $41,115 |
| 3BR | $162,289 | $1,240 | 5.5% | +5.4% | $54,096 |
| 4BR | $195,768 | $1,340 | 4.9% | +5.5% | $48,942 |
Market Trends
Home Value History (with trend line)
📊 How Does 15438 Compare?
| Metric | 15438 | Fayette City | Pittsburgh, PA | Pennsylvania |
|---|---|---|---|---|
| Home Value | $123,940 | $123,940 | N/A | $278,018 |
| 5-Year CAGR | 0.3% | 0.3% | N/A | 6.3% |
| Avg Rent | $873 | $873 | N/A | - |
| Cap Rate | 5.5% | 5.5% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 15438 (Fayette City, PA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $123,940 |
| Monthly Rent | $873 |
| Price-to-Rent | 11.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 8.5% |
| Cap Rate | 5.5% |
| 5-Year IRR | 5.8% |
📈 Home Appreciation
| 1-Year | -1.1% ▼ |
| 3-Year CAGR | +1.3% ▲ |
| 5-Year CAGR | +0.3% ▲ |
| 10-Year CAGR | +2.7% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (5.5%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 15438
Population: 2,011
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Nearby Colleges & Universities
Investor Insight: With 1,539 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the typical home price in Fayette City, PA?
In Fayette City, PA the median home value sits at $124K. Against the broader PA market, that reads as reasonable for most investors.
How strong is the working-renter base in Fayette City, PA?
Tenant demand in Fayette City, PA is solid. The local workforce $873/mo rents across most rental classes.
What is it like being a landlord in Fayette City, PA?
PA law landlord-friendly for landlords, and Fayette City inherits those rules. Investors should still review local ordinances for rental licensing.
What is the typical vacancy rate in Fayette City, PA?
Fayette City, PA vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
Can I live-in-and-rent in Fayette City, PA?
House hacking in Fayette City, PA is a challenging. With home values around $124K and rents at $873/mo, owner-occupants can offset a meaningful share of PITI.
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How 15438 ranks in Pittsburgh, PA
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