Location: Harrisburg-Carlisle, PA | Metro: Harrisburg-Carlisle, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
U.S. Census Bureau data (2024)
The ZIP code 17037 is situated in a suburban neighborhood characterized by a relatively small population of 1,176 residents. With only 16.6% of the residents being renters, it suggests a community where homeownership is prevalent, boasting a median home value of $242,916. The area's median income stands at $75,000, indicating a middle-class community with a stable economic base.
Moving into the specifics of rental economics, the Fair Market Rent (FMR) for ZIP 17037 as of the fiscal year 2024 is set at $1,110. This figure closely aligns with the market rent reported by the Census Bureau's American Community Survey, which is $1,100. This parity between FMR and market rent highlights a balanced rental market, where properties can be rented out at rates that are both competitive and compliant with government standards.
Considering the investment landscape, ZIP 17037 presents a scenario where a hands-off voucher operator could find success. The stable economic indicators and the close match between FMR and market rent suggest that there is little risk in maintaining consistent occupancy and cash flow. However, for a hands-on value-add buyer, opportunities may be limited due to the already established equilibrium in the rental market and the relatively low proportion of renters in the community.
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.