Section 8 Fair Market Rent (FMR) for ZIP 17120 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 17120, located in Lancaster, Pennsylvania, is part of a suburban area that offers a mix of residential and commercial properties. This region is characterized by its proximity to urban amenities while maintaining a suburban feel, making it attractive for both families and individuals seeking affordable housing options.

• The Fair Market Rent (FMR) for ZIP 17120 in fiscal year 2024 is set at $1270. This figure represents the maximum amount that low-income households should pay for rental housing to avoid being cost-burdened.
• The median home value in ZIP 17120 is currently N/A. This data point would provide insight into the overall property values within the area but is unavailable for this analysis.
• The percentage of renters in the area is N/A. Understanding the proportion of renters can help predict demand for rental properties.
• The average days on market (DOM) for rental listings is N/A. A lower DOM typically indicates a strong rental market where properties are quickly leased.
• The median household income in ZIP 17120 is N/A. Knowing the median income helps gauge the financial capacity of potential tenants to afford rent.

Based on the available data, the primary focus for investors should be on the Fair Market Rent figure of $1270, which sets a benchmark for rental pricing in the area. While specific metrics such as median home value, renter share, and days on market are currently unavailable, the FMR provides a solid foundation for setting competitive rents. Investors should also consider the broader economic context of Lancaster and how it might influence tenant affordability and demand. Given the suburban nature of ZIP 17120, there is likely a steady demand for affordable housing, which aligns well with the FMR guidance. However, without detailed local statistics, further research into neighborhood-specific trends and economic indicators is recommended to fully capitalize on investment opportunities.

Data Sources: FMR data from HUD (2027).

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.