Location: Harrisburg-Carlisle, PA | Metro: Chambersburg, PA MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,240 |
| 1 Bedroom | $1,390 |
| 2 Bedrooms | $1,720 |
| 3 Bedrooms | $2,240 |
| 4 Bedrooms | $2,320 |
| 5 Bedrooms | $2,691 |
| 6 Bedrooms | $3,014 |
| 7 Bedrooms | $3,255 |
| 8 Bedrooms | $3,418 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,240 | $336,585 | 0.67% | D |
| 4BR | $2,320 | $460,598 | 0.5% | F |
U.S. Census Bureau data (2024)
The median income in ZIP code 17240 stands at $91,429, which places considerable financial pressure on the 14.5% of the 3,241 residents who are renters. The market rate for rent, according to Census ACS data, is $1,359. This amount represents a significant portion of a household's budget, especially when considering that the federal payment standard for Housing Choice Vouchers (FMR) is set at $1,310 for the fiscal year 2024.
To put this into perspective, a household earning the median income would allocate approximately 32% of their monthly earnings towards market-rate rent. When comparing this to the voucher payment standard of $1,310, the difference is minimal, suggesting that voucher recipients can afford market-rate rents without much strain.
The affordability gap between the median income and market-rate rent is a critical factor for landlords. With only 14.5% of the population being renters, competition for tenants is likely high. Landlords must consider the benefits and drawbacks of accepting vouchers versus relying solely on cash-paying tenants.
Accepting vouchers means securing a steady stream of rental income guaranteed by the government. However, the administrative process can be cumbersome, and there might be delays in payments. On the other hand, cash-paying tenants provide immediate, consistent income but may be harder to come by due to the high cost of living relative to the median income.
The takeaway for landlords is to weigh the convenience of cash-paying tenants against the security of voucher-backed income. Given the close alignment between market rates and FMRs, landlords can expect that voucher holders will have little difficulty meeting the rent requirements. Thus, landlords should consider a balanced approach, perhaps offering a mix of units that accept vouchers and those that cater to cash-paying tenants to maximize occupancy and revenue stability.
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.