Location: Harrisburg-Carlisle, PA | Metro: Harrisburg-Carlisle, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,170 |
| 1 Bedroom | $1,290 |
| 2 Bedrooms | $1,610 |
| 3 Bedrooms | $2,070 |
| 4 Bedrooms | $2,120 |
| 5 Bedrooms | $2,459 |
| 6 Bedrooms | $2,754 |
| 7 Bedrooms | $2,974 |
| 8 Bedrooms | $3,123 |
ZIP 17121, located in Harrisburg-Carlisle, PA MSA, serves as a cash-flow anchor within a Section 8 portfolio strategy. The Fair Market Rent (FMR) for FY 2024 is set at $1270, which is lower than the typical market rent in the area. Although specific market rent figures were not found in the search results, the data suggests that ZIP 17121 has a competitive real estate market with higher-than-average median incomes and home values compared to the state average. This implies that the actual market rent is likely above the FMR, creating a positive spread that supports steady cash flow.
The median household income in ZIP 17121 is significantly higher than the state average, indicating an affluent area. This economic strength can help ensure a stable tenant base, reducing the risk of non-payment and vacancy. Additionally, the higher median home values suggest that the area is experiencing steady growth, further supporting the viability of a cash-flow anchor strategy.
To summarize, ZIP 17121 is best suited as a cash-flow anchor within a Section 8 portfolio due to the favorable spread between the FMR and the expected market rent, along with the strong economic indicators present in the area. This approach will provide consistent returns and minimize financial risks associated with property management.
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.