Section 8 Fair Market Rent (FMR) for ZIP 17064 - 2027

Location: Lebanon, PA | Metro: Lebanon, PA MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,190
1 Bedroom	$1,290
2 Bedrooms	$1,630
3 Bedrooms	$2,100
4 Bedrooms	$2,280
5 Bedrooms	$2,645
6 Bedrooms	$2,962
7 Bedrooms	$3,199
8 Bedrooms	$3,359

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

839

Median Household Income

$130,417

Housing Units

528

Renter Percentage

10.2%

Occupancy Rate

61.6%

Renter Occupied

The ZIP code 17064, located in Lancaster, Pennsylvania, offers a stable real estate market with opportunities for both landlords and small-portfolio investors. The area is characterized by a mix of residential neighborhoods and suburban development, providing a balanced environment for families and individuals seeking affordable housing options.

The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 17064 for fiscal year 2024 is set at $1,570. This figure reflects the government's benchmark for rental affordability and can be used to gauge competitive pricing for rental units.
The average market rent for properties in the area, according to the Census American Community Survey (ACS), stands at $1,275. This indicates that rental prices in ZIP 17064 are below the FMR, offering potential for price adjustments without exceeding market rates.
The median home value in ZIP 17064 is $399,892. This suggests that homeownership is relatively accessible compared to larger metropolitan areas, but also that property values have a solid base, indicating potential for appreciation over time.
Renters make up 10.2% of the total population in ZIP 17064. While this percentage is low, it still represents a significant portion of the market, especially considering the stability and demand for rental properties in the area.
The median household income in ZIP 17064 is $130,417. This robust income level supports a strong tenant base capable of paying higher rents, potentially increasing the profitability of rental investments.

In summary, ZIP 17064 presents a real estate market where rental properties can be priced competitively while still attracting financially stable tenants. The gap between the market rent and the FMR provides room for price increases, and the median home value indicates a healthy and growing housing market. Despite the relatively low renter share, the demand for rentals remains steady, making it a viable option for investment. Landlords and small-portfolio investors should take advantage of these conditions to maximize their returns on investment.

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.