Location: Juniata County, PA | Metro: Chambersburg, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,550 |
| 4 Bedrooms | $1,790 |
| 5 Bedrooms | $2,076 |
| 6 Bedrooms | $2,325 |
| 7 Bedrooms | $2,511 |
| 8 Bedrooms | $2,637 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 17021 in fiscal year 2024 is set at $1110. This figure represents the payment standard for Section 8 housing vouchers, which means it is the maximum amount the government will pay towards a tenant's rent. However, this does not necessarily mean your property will be rented for this exact amount; tenants typically cover the difference between the FMR and the actual rent.
To put this into perspective, the average rent in ZIP 17021, according to the Census Bureau's American Community Survey, is $867. This suggests that the FMR is higher than the typical market rate, potentially making Section 8 properties more attractive to renters who qualify for assistance.
In ZIP 17021, 22.1% of residents are renters. This indicates a moderate level of demand for rental properties, but it also means that a significant portion of the population is already renting. Therefore, the demand for affordable housing could be substantial, especially given the lower average rent compared to the FMR.
The median home value in ZIP 17021 is $213,209, which can serve as a reference point when considering the acquisition cost of a property intended for Section 8 tenancy. While this price might seem high, remember that the FMR provides a consistent income stream through government subsidies, reducing financial risk.
Before proceeding with a Section 8 rental property in ZIP 17021, ensure that your property meets all the necessary inspection standards required by the Housing Authority. This verification step is crucial as failing inspections can delay the leasing process and result in additional costs.
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.