Section 8 Fair Market Rent (FMR) for ZIP 17229 - 2027
Location: Huntingdon County, PA | Metro: Fulton County, PA
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $760 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$70,313
A landlord considering purchasing a property in ZIP code 17229 for Section 8 purposes must evaluate several key factors. Let's break down the decision-making process into a series of questions:
- Does the Fair Market Rent (FMR) of $970 cover the debt service on a property valued at $200,692?
- Yes. The FMR of $970 per month is sufficient to cover the debt service on a property valued at $200,692. This assumes that the property's mortgage payment, including principal, interest, taxes, and insurance, does not exceed $970 monthly. For a typical mortgage rate, this would be a reasonable assumption, making the property financially viable under Section 8.
- Is the market rent of $875 above, at, or below the FMR?
- Below. The market rent of $875 is below the FMR of $970. This means that properties in this area can potentially be rented out at a higher rate if the tenant is part of the Section 8 program, providing a margin over the market rate and ensuring better financial returns.
- Are 18.2% of residents renters, and is the number of days on the market (DOM) sufficient to meet demand?
- It depends. With 18.2% of residents being renters, there is a notable but not overwhelming rental demand in the area. However, the data does not provide a figure for DOM (days on the market), which is critical for understanding how quickly properties are leased. If the DOM is short, indicating quick leasing, then the demand could be considered strong despite the lower percentage of renters. Conversely, if DOM is long, it suggests a slower market, which might make the investment less attractive.
Given these points, a landlord should proceed cautiously. The FMR covers the debt service, and the potential to rent above market rates exists. However, the strength of rental demand remains unclear without knowing the DOM. A thorough analysis of local rental listings and recent lease activity will clarify whether the demand is robust enough to support a Section 8 investment in ZIP 17229.
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.