Location: Harrisburg-Carlisle, PA | Metro: Harrisburg-Carlisle, PA MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,010 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,390 |
| 3 Bedrooms | $1,790 |
| 4 Bedrooms | $1,830 |
| 5 Bedrooms | $2,123 |
| 6 Bedrooms | $2,378 |
| 7 Bedrooms | $2,568 |
| 8 Bedrooms | $2,696 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,390 | $231,076 | 0.6% | D |
| 3BR | $1,790 | $296,459 | 0.6% | D |
| 4BR | $1,830 | $417,233 | 0.44% | F |
U.S. Census Bureau data (2024)
12.9% of Dauphin, PA residents are renters, reflecting a stable demand for rental properties in ZIP code 17018. The Fair Market Rent (FMR) for the area, as set by HUD for fiscal year 2024, is $1110, providing a benchmark for rental pricing. Comparatively, the market rent based on Census ACS data stands at $1,063, indicating that the actual rental rates are slightly below the FMR threshold. This suggests that landlords can potentially charge closer to the FMR without alienating tenants.
$294,668 is the median home value in the area, which is a significant figure for real estate investors considering the purchase of single-family homes or multi-unit buildings. This value, combined with the FMR and market rent figures, allows investors to calculate potential returns on investment accurately. Additionally, the median income of $72,188 provides insight into the financial capacity of the local population, ensuring that there is a sufficient pool of potential tenants who can afford the rent.
The lack of specific data regarding days on market (DOM) and the percentage of price-cut shares indicates that the real estate market in Dauphin, PA is relatively stable and not experiencing rapid fluctuations. This stability is beneficial for both landlords and small-portfolio investors, as it minimizes the risk of sudden drops in property values or occupancy rates.
In conclusion, given the data from ZIP 17018, investing in properties that cater to the Section 8 program presents a viable opportunity. The FMR of $1110 aligns closely with the market rent of $1,063, while the median home value of $294,668 and median income of $72,188 support a healthy rental environment. With a steady 12.9% renter share, the demand for affordable housing is consistent. Therefore, the verdict for Section 8 investment in Dauphin, PA is positive, offering a solid foundation for long-term financial returns.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.