Location: Harrisburg-Carlisle, PA | Metro: Harrisburg-Carlisle, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,070 |
| 1 Bedroom | $1,180 |
| 2 Bedrooms | $1,470 |
| 3 Bedrooms | $1,890 |
| 4 Bedrooms | $1,930 |
| 5 Bedrooms | $2,239 |
| 6 Bedrooms | $2,508 |
| 7 Bedrooms | $2,709 |
| 8 Bedrooms | $2,844 |
U.S. Census Bureau data (2024)
The rent math in ZIP code 17006, part of the Harrisburg-Carlisle, PA MSA, does not work in favor of landlords. The Fair Market Rent (FMR) set at $1110 for fiscal year 2024 is higher than the actual market rent of $1,022 reported by the Census Bureau's American Community Survey (ACS). This discrepancy means that landlords who charge the FMR rate will likely face challenges in finding tenants willing to pay above the market rate.
Acquisition costs in this ZIP code are also not favorable for potential landlords or small-portfolio investors. With a median home value of $192,796, purchasing property in 17006 comes at a significant cost. However, the lack of available data on days on market (DOM) and the percentage of homes sold with a price cut suggests that the local real estate market might be stable, but it doesn't provide enough evidence to conclude affordability. Landlords should carefully consider their investment strategy and expected returns before committing to acquisitions in this area.
Tenant demand is moderate in ZIP 17006. The total population is 1,102, and 26.3% of these residents are renters. While the renter share indicates some level of demand, the small overall population limits the pool of potential tenants, which could impact occupancy rates and the speed of filling vacancies.
Verdict: ZIP 17006 presents a challenging environment for landlords and small-portfolio investors. The higher FMR compared to the actual market rent makes it difficult to attract tenants at the subsidized rate. Acquisition costs are high, and limited data on market dynamics do not support an easy entry into the area. Additionally, the small population size restricts the number of potential renters, which may affect the ability to maintain fully occupied properties. Investors should proceed with caution and evaluate other ZIP codes with more favorable conditions for rental income and property acquisition.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.