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 | $970 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,330 |
| 3 Bedrooms | $1,710 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,330 | $145,946 | 0.91% | C |
| 3BR | $1,710 | $150,100 | 1.14% | B |
| 4BR | $1,750 | $155,824 | 1.12% | B |
| 5BR | $2,030 | $133,013 | 1.53% | A+ |
U.S. Census Bureau data (2024)
ZIP 17103, located in Harrisburg, PA, within the Harrisburg-Carlisle, PA MSA metro area, serves as an ideal cash-flow anchor for a Section 8 portfolio strategy. The Federal Market Rent (FMR) for the fiscal year 2024 is set at $1160, which exceeds the current market rent of $1073 by $87. This positive spread ensures that properties in this ZIP code will generate higher rental income compared to what the market offers, providing a stable and predictable cash flow.
The median home value in ZIP 17103 stands at $141,681, indicating that the real estate market here is relatively affordable. However, the focus for a Section 8 portfolio should be on the rental income rather than property appreciation, given the low price-cut share of 0.2% and the lack of data on days on market (DOM). These factors suggest that the market is not particularly volatile, but they do not point towards significant appreciation potential.
A cash-flow anchor is crucial for any real estate investment portfolio because it provides a reliable source of income. In ZIP 17103, the guaranteed rental income through Section 8 vouchers, coupled with the favorable spread over market rents, makes it an excellent choice for generating steady cash flow. The high renter share of 58.8% and median income of $39,825 further support the viability of this strategy, as these figures indicate a substantial demand for rental housing and a population that is likely to qualify for Section 8 assistance.
In conclusion, ZIP 17103 is best suited as a cash-flow anchor within a Section 8 portfolio strategy. Its FMR of $1160, which is $87 above the market rent, ensures a consistent and reliable income stream. While there may not be significant appreciation opportunities, the stability and predictability offered by this ZIP code make it a valuable asset for landlords and small-portfolio investors looking to secure their financial future.
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.