Location: Chambersburg, PA | Metro: Chambersburg, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $930 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,330 |
| 3 Bedrooms | $1,780 |
| 4 Bedrooms | $1,910 |
| 5 Bedrooms | $2,216 |
| 6 Bedrooms | $2,482 |
| 7 Bedrooms | $2,681 |
| 8 Bedrooms | $2,815 |
U.S. Census Bureau data (2024)
1150 is the Fair Market Rent (FMR) for ZIP code 17217 as of fiscal year 2024, setting a benchmark for rental properties in the area. 75,208 is the median income figure for the same ZIP code, indicating the financial capability of the local population. 0.0% is the reported renter share, which suggests that homeownership is nearly universal in 17217, pointing to a community where owning a home is preferred over renting. Although the market rent and median home value are not available, the lack of data on days on market (DOM) and the absence of any percentage for price-cut share hint at a stable housing market without significant fluctuations or prolonged listings.
Investors looking to enter the rental market in 17217 should consider the high FMR and the strong median income levels as positive indicators. The stability implied by the unreported DOM and price-cut share figures can be advantageous for those seeking predictable returns. However, the 0.0% renter share highlights a challenge in attracting tenants, as the area leans heavily towards homeownership. This could mean that landlords must offer competitive amenities or maintain exceptionally high property standards to attract renters.
Given these factors, the Section 8 program could present an opportunity to fill the rental void while ensuring a steady income stream. Yet, the suitability of Section 8 for this ZIP code depends on the willingness to comply with government regulations and the ability to manage properties effectively to meet the high standards expected in a predominantly owner-occupied neighborhood. 17217's robust median income supports the viability of Section 8, but the low renter share underscores the need for strategic planning to succeed in the rental sector.
Section 8 verdict: 1150 FMR indicates potential, but 0.0% renter share requires a targeted approach.
Data Sources: FMR data from HUD (2027). 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.