Location: Chambersburg, PA | Metro: Chambersburg, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,000 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,370 |
| 3 Bedrooms | $1,750 |
| 4 Bedrooms | $1,860 |
| 5 Bedrooms | $2,158 |
| 6 Bedrooms | $2,417 |
| 7 Bedrooms | $2,610 |
| 8 Bedrooms | $2,741 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 17219 within the Chambersburg, PA MSA metro reveals key insights for landlords and small-portfolio investors.
The rent math does not work favorably for Section 8 landlords. The Fair Market Rent (FMR) for the zip code in fiscal year 2024 is set at $950. However, the market rent data is not available, which makes it challenging to directly compare the two figures. Without a benchmark for market rent, it's difficult to assess whether the FMR adequately covers operating costs and provides a reasonable profit margin.
Acquisition is relatively affordable in ZIP 17219. With a median home value of $247,235, purchasing properties can be done without requiring an exorbitant investment. Unfortunately, the specific days on market (DOM) and the percentage of homes that required price cuts before selling are not provided, making it harder to gauge the current housing market dynamics. Nonetheless, the median home value suggests that acquiring rental properties could be within reach for many investors.
Tenant demand is low in ZIP 17219. The area has a population of 484, with only 7.9% being renters. This indicates a limited pool of potential tenants, which could lead to higher vacancy rates and difficulty in finding qualified applicants who meet the income requirements for Section 8 housing.
Verdict: Investing in ZIP 17219 for Section 8 properties is not advisable due to the unfavorable rent math and low tenant demand. The lack of comprehensive market rent data further complicates the assessment, but the combination of these factors points towards a challenging environment for landlords and investors seeking stable returns.
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.