Location: Juniata County, PA | Metro: Harrisburg-Carlisle, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
U.S. Census Bureau data (2024)
The market dynamics in ZIP code 17035 reveal a rental sector that is currently underserved relative to its Fair Market Rent (FMR) benchmark. The FMR for the area stands at $1110 for fiscal year 2024, while the actual market rent as per the Census American Community Survey (ACS) is lower at $871. This discrepancy suggests that the demand for rental properties may be exceeding the supply, as landlords can command rents below the FMR without significant price cuts.
The median home value in ZIP 17035 is $252,686, which provides a context for homeownership versus renting. With a relatively low market rent compared to the FMR, it indicates that there might be a segment of the population finding rental options more attractive than purchasing homes at the current median price. However, the exact percentage of price-cut share and days on market (DOM) are not available, making it challenging to quantify the exact level of competition among rentals.
A key indicator of long-term housing pressure is the 16.7% renter share. This figure points towards a market where a considerable portion of residents prefer or require renting over owning. A higher renter share often correlates with increased housing pressure, particularly if there is limited new construction or conversion of units into rental properties. Landlords and small-portfolio investors should take note of this trend, as it signifies a sustained demand for rental properties in the area.
In summary, ZIP 17035 presents a rental market that is likely experiencing upward pressure due to the gap between FMR and market rent, along with a notable renter share. These factors suggest that the demand for rental properties may be outpacing the supply, creating an environment ripe for investment opportunities for those who can provide quality rental units at competitive rates.
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.