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 | $1,090 |
| 1 Bedroom | $1,200 |
| 2 Bedrooms | $1,490 |
| 3 Bedrooms | $1,920 |
| 4 Bedrooms | $1,960 |
| 5 Bedrooms | $2,274 |
| 6 Bedrooms | $2,547 |
| 7 Bedrooms | $2,751 |
| 8 Bedrooms | $2,889 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,920 | $270,402 | 0.71% | D |
U.S. Census Bureau data (2024)
The analysis of ZIP code 17093 within the Harrisburg-Carlisle, PA MSA reveals several key points that should guide real estate investment decisions.
The rent math does not work favorably for Section 8 participation. The Fair Market Rent (FMR) set at $1730 for fiscal year 2024 is the benchmark figure for this area. However, without specific data on market rents, it's challenging to compare the FMR directly to what landlords could potentially charge in the open market. This suggests that landlords might find themselves undercharging if they rely solely on Section 8 tenants.
Acquisition costs are relatively low, making it feasible for potential investors to enter the market. With a median home value of $242,765, the area offers a good starting point for those looking to purchase properties. Unfortunately, the data lacks specifics on the number of days on market (DOM) and the percentage of homes that required a price reduction to sell, which would have provided further insight into the affordability and speed of acquisitions.
Tenant demand is limited in ZIP 17093. The total population is 684, with only 7.5% being renters. This indicates a small pool of potential Section 8 tenants, which could make it difficult to fill vacancies and sustain long-term occupancy.
Verdict: ZIP 17093 presents a challenging environment for Section 8 landlords and small-portfolio investors. The rent math is unfavorable due to the lower FMR compared to likely market rates, and the limited tenant demand poses a risk for maintaining occupancy. While the median home value is reasonable, the lack of comprehensive data on market conditions makes it hard to recommend this ZIP code without reservations. Investors should proceed with caution and consider diversifying their portfolio beyond this area.
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.