Section 8 Fair Market Rent (FMR) for ZIP 17222 - 2027

Location: Gettysburg, PA | Metro: Chambersburg, PA MSA

Investment Score for ZIP 17222

Monthly Rent (2BR)

$1,270

Median Price (2BR)

$233,385

1% Rule

0.54%

Annual Yield

6.53%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$920
1 Bedroom	$1,020
2 Bedrooms	$1,270
3 Bedrooms	$1,690
4 Bedrooms	$1,820
5 Bedrooms	$2,111
6 Bedrooms	$2,364
7 Bedrooms	$2,553
8 Bedrooms	$2,681

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,270	$233,385	0.54%	F
3BR	$1,690	$307,131	0.55%	F
4BR	$1,820	$381,453	0.48%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

10,550

Median Household Income

$80,000

Housing Units

5,205

Renter Percentage

12.5%

Occupancy Rate

88.3%

Renter Occupied

572

To determine if you should buy in ZIP code 17222 (Chambersburg, PA) for Section 8 investments, follow this decision tree:

1) Does FMR $1200 (zip FY 2024) clear debt service on a $284,319 property?

No: The Fair Market Rent (FMR) of $1200 does not cover the typical debt service costs on a property valued at $284,319. Debt service includes mortgage payments, property taxes, insurance, and maintenance. For a property of this value, these costs would likely exceed $1200 per month, making it financially unfeasible to rely solely on Section 8 rental income.

2) Is market rent $890 (Census ACS) above, at, or below FMR?

Below FMR: The market rent of $890 is significantly below the FMR of $1200. This indicates that Section 8 properties can command higher rents compared to the general market, which is beneficial for landlords participating in the program.

3) Are 12.5% renters + 22-day DOM enough demand?

It depends: With 12.5% of residents being renters and an average Days on Market (DOM) of 22 days, there is moderate demand for rental properties in Chambersburg. However, the decision hinges on the landlord's ability to find tenants willing to pay the FMR of $1200. Given the market rent is lower, there might be competition for Section 8 tenants. Additionally, consider the local vacancy rate and the number of Section 8 vouchers available to ensure steady occupancy.

In summary, while the FMR provides a higher rent than the market average, the financial feasibility of purchasing a $284,319 property for Section 8 is questionable due to the high debt service costs. There is moderate demand for rentals, but securing tenants who can pay the FMR will require diligence in tenant screening and possibly leveraging other sources of income to make the investment viable.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.