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 | $1,020 |
| 1 Bedroom | $1,130 |
| 2 Bedrooms | $1,400 |
| 3 Bedrooms | $1,800 |
| 4 Bedrooms | $1,840 |
| 5 Bedrooms | $2,134 |
| 6 Bedrooms | $2,390 |
| 7 Bedrooms | $2,581 |
| 8 Bedrooms | $2,710 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,400 | $174,599 | 0.8% | C |
| 3BR | $1,800 | $197,778 | 0.91% | C |
| 4BR | $1,840 | $218,762 | 0.84% | C |
U.S. Census Bureau data (2024)
The analysis of ZIP code 17034, Highspire, PA, within the Harrisburg-Carlisle, PA MSA metro, reveals several key points regarding its suitability for rental investment.
First, the rent math does work favorably. The Fair Market Rent (FMR) set at $1150 for the fiscal year 2024 exceeds the current market rent of $1,041 according to Census ACS data. This indicates that properties in this area can potentially command rents above the market average, providing a margin for covering operational costs and generating profit.
Second, the acquisition cost appears reasonable. With a median home value of $189,691, purchasing a property in this ZIP code is within reach for many investors. However, the lack of data on days on market (DOM) and the percentage of homes needing price cuts suggests that while the median value is an indicator of affordability, the specifics of the local housing market dynamics are unclear. This could mean either a stable market with consistent sales or a less liquid market where properties might take longer to sell or require adjustments.
Third, there is a significant tenant demand. The ZIP code has a total population of 3,071, with 56.2% being renters. This high percentage of renters indicates a strong demand for rental properties, which is essential for maintaining occupancy rates and ensuring a steady stream of rental income.
Verdict: ZIP code 17034 presents a favorable environment for rental investments. The higher FMR compared to the market rent suggests potential for profitability, while the median home value makes acquisitions affordable. The substantial renter share points to robust tenant demand, supporting the viability of rental operations. However, the absence of detailed market liquidity indicators should be considered before making investment decisions. Landlords and small-portfolio investors should proceed with confidence, but also caution, to ensure they fully understand the local market conditions.
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.