Location: Chambersburg, PA | Metro: Chambersburg, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $960 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,790 |
| 4 Bedrooms | $1,880 |
| 5 Bedrooms | $2,181 |
| 6 Bedrooms | $2,443 |
| 7 Bedrooms | $2,638 |
| 8 Bedrooms | $2,770 |
U.S. Census Bureau data (2024)
The ZIP code 17232 presents several challenges for potential Section 8 landlords. Tenant turnover is a significant concern due to the difference between market rent and the Fair Market Rent (FMR) of $1150 for fiscal year 2024. This discrepancy can lead to higher costs associated with frequent re-leasing and tenant screening processes. Vacancy exposure is another issue, as the average days on market (DOM) data is unavailable, which makes it difficult to predict how long properties might remain vacant between tenants. This uncertainty can be costly, especially if rental income is critical for maintaining cash flow. Additionally, the lack of data on typical home values and median income in the area suggests that there may be an increased risk of deferred maintenance, as tenants' financial situations may limit their ability to cover unexpected repair costs.
Despite these risks, the high renter share of 21.4% in ZIP 17232 indicates a robust demand for rental housing, which often translates into a higher number of Section 8 voucher holders seeking accommodation. This dense population of renters increases the likelihood of finding eligible tenants quickly, thereby reducing the overall vacancy risk.
In conclusion, the investment risk for a first-time Section 8 landlord in ZIP 17232 is moderate.
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.