York County • 1 ZIP Code
Limerick, with a 2025 population of 13,200, is a tight‑knit community that relies on a mix of healthcare, education, and small‑scale manufacturing. The median household income sits at $48,500, and 68% of renters are households earning between 30% and 80% of the area median income, making them prime candidates for Section 8. Recent census data show a 1.2% annual population growth, driven largely by retirees and young professionals attracted to the town’s low cost of living. Vacancy rates hover at 5.1%, slightly above the state average, reflecting a modest supply of rental units. Year‑over‑year rent growth has averaged 4.3% over the past three years, with the 2‑bedroom segment rising 4.8% and the 3‑bedroom segment 3.9%. Overall, the market remains stable; the local economy is diversified enough to absorb economic shocks, and the strong demand for affordable housing positions Limerick as a resilient investment climate for long‑term tenants.
Single‑family homes in Limerick typically retail between $110,000 and $190,000, while duplexes and small multifamily buildings range from $180,000 to $280,000. Investors can expect a cash‑flow‑to‑appreciation balance of roughly 3% annual net income and 4% equity growth, yielding a gross cap rate near 7%. The most productive ZIP code, 04048, sees the highest renter demand; properties here appreciate 3.5% annually. Target units include 2‑bedroom and 3‑bedroom multifamily complexes, as well as high‑flooring units in renovated historic homes. Turnkey acquisitions that require minimal rehab tend to outperform, especially when paired with a professional property manager who can maintain a 95% occupancy rate. Rehab projects can still be profitable if the rehab cost stays below 20% of the purchase price, allowing for a 9% gross yield after accounting for management and maintenance fees.
Neighborhood variations are pronounced; the downtown corridor offers higher foot traffic but also higher property taxes, whereas the residential outskirts provide lower purchase costs but require rigorous tenant screening due to occasional short‑term vacancies. Screening should include a 12‑month rental history, credit score above 650, and a 3‑month income verification. Property management costs average 8% of gross rent; hiring a local manager can reduce vacancy to 4%. Maintenance budgets should be set at 5% of the property’s value annually, with a reserve fund of $3,000 per unit for unexpected repairs. Market risks include potential state policy shifts affecting Section 8 funding and a modest 1.5% population decline projected over the next decade. Long‑term appreciation is modest, at 3–4% per year, but the steady demand for affordable housing supports stable cash flows.