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 |
The rental market in ZIP code 17122, located in Pennsylvania, is characterized by a Federal Market Rent (FMR) of $1270 for fiscal year 2024. This figure serves as a benchmark for the area, indicating the level at which the government aims to set rents for subsidized housing programs under Section 8. However, the absence of data on market rent, price-cut share, days on market (DOM), and median home value suggests a limited understanding of the current dynamics between supply and demand.
Despite the lack of comprehensive data, the fact that the FMR has been established implies a recognized need for affordable housing in the area. The FMR acts as a safety net for low-income families, ensuring they can afford decent and safe housing. In the context of ZIP 17122, the FMR indicates that the rental market is likely influenced by the availability of subsidized units, which could stabilize rent prices and provide a buffer against rapid increases.
The unknown percentage of renter share in the area is critical for understanding long-term housing pressures. A high renter share often points towards an area with significant housing pressure, where many residents cannot afford to purchase homes and rely on rentals. Conversely, a lower renter share might suggest a more balanced market with a healthy mix of homeowners and renters. While the exact percentage is not available, it is important to consider how changes in this ratio over time could impact the rental market. If the number of renters grows, it could signal increasing housing pressure, leading to higher demand for rental properties and potentially driving up rents.
The dynamics of ZIP 17122's rental market remain somewhat opaque due to the incomplete data. However, the presence of an FMR and the potential influence of subsidized housing indicate a market that is being actively managed to ensure affordability. Landlords and small-portfolio investors should be aware of these factors when considering their investment strategies in the area.
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.