Location: Harrisburg-Carlisle, PA | Metro: Harrisburg-Carlisle, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,040 |
| 1 Bedroom | $1,140 |
| 2 Bedrooms | $1,420 |
| 3 Bedrooms | $1,830 |
| 4 Bedrooms | $1,870 |
| 5 Bedrooms | $2,169 |
| 6 Bedrooms | $2,429 |
| 7 Bedrooms | $2,623 |
| 8 Bedrooms | $2,754 |
U.S. Census Bureau data (2024)
The market in ZIP code 17069 presents a dynamic landscape that is indicative of ongoing shifts in housing demand and supply. With a Fair Market Rent (FMR) of $1110 for the fiscal year 2024, it aligns closely with the market rent observed at $1,188 based on recent Census American Community Survey (ACS) data. This suggests that rental properties in this area are priced competitively, reflecting a balance between what tenants can afford and what landlords charge.
The 45.8% renter share highlights a significant portion of the population that relies on rental housing, which can exert long-term pressure on the housing market. This high percentage indicates a strong demand for rental units, potentially leading to sustained occupancy rates and steady rental income for landlords. However, it also implies that a considerable number of residents may face challenges in transitioning to homeownership, which could further drive up the demand for rental properties.
While specific metrics such as the percentage of price-cut share and days on market (DOM) are currently unavailable, the alignment of FMR and market rent suggests that the market is functioning efficiently. In a scenario where supply outpaces demand, we would typically see a divergence between these two figures, with market rents falling below the FMR. Conversely, if demand were significantly higher than supply, market rents would likely exceed the FMR, indicating a tight rental market.
The dynamics of ZIP 17069's housing market are influenced by the substantial renter share, which signals a continuous need for rental accommodations. Landlords and small-portfolio investors should remain vigilant to changes in the local economy and demographic trends that could impact the balance between supply and demand. Engaging in proactive property management and maintaining competitive rental rates will be key to success in this evolving market.
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.