Location: Harrisburg-Carlisle, PA | Metro: Harrisburg-Carlisle, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,160 |
| 1 Bedroom | $1,270 |
| 2 Bedrooms | $1,590 |
| 3 Bedrooms | $2,070 |
| 4 Bedrooms | $2,130 |
| 5 Bedrooms | $2,471 |
| 6 Bedrooms | $2,768 |
| 7 Bedrooms | $2,989 |
| 8 Bedrooms | $3,138 |
U.S. Census Bureau data (2024)
The ZIP code 17027 stands out due to its unique demographic profile. With only 2,801 residents, it has a relatively low population density compared to many other ZIP codes. Notably, 21.8% of the residents rent their homes, indicating a smaller but present rental market. The median income in this area is $86,513, which suggests that residents have a higher purchasing power than those in areas with lower incomes. However, the median home value is listed as N/A, which could imply that there is limited data available or that the majority of properties are either rented or not typically valued through traditional home sales metrics.
Turning to the economics of Section 8 vouchers, the Fair Market Rent (FMR) for ZIP 17027 is set at $1,330 for fiscal year 2024. This figure contrasts sharply with the market rent of $1,861 as reported by the Census Bureau's American Community Survey (ACS). Landlords in this ZIP code can expect a subsidy gap of approximately $531 per month if they choose to participate in the Section 8 program. This means that while vouchers cover a significant portion of the rent, landlords will still need to consider the additional amount required to meet market rates.
In terms of stability, the data signature for ZIP 17027 leans towards being stable. The consistent median income and the presence of a defined rental market suggest a steady economic environment. However, the lack of data on median home values introduces an element of uncertainty, potentially making the ZIP code transitional in nature. Small-portfolio investors should carefully evaluate the local real estate trends and the demand for rental properties before considering investment or participation in the Section 8 program.
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.