Location: Harrisburg-Carlisle, PA | Metro: Harrisburg-Carlisle, 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 | $990 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,740 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,350 | $249,495 | 0.54% | F |
| 3BR | $1,740 | $328,767 | 0.53% | F |
| 4BR | $1,770 | $429,743 | 0.41% | F |
| 5BR | $2,053 | $519,490 | 0.4% | F |
U.S. Census Bureau data (2024)
1120 is the Fair Market Rent (FMR) for ZIP 17241, Newville, PA, as set by HUD for fiscal year 2024. This figure represents the maximum rent that can be charged to tenants receiving Section 8 assistance. In contrast, the market rent stands at 1079 dollars according to recent Census ACS data, indicating a slight premium for Section 8 properties. The median home value in Newville is 320286 dollars, which is a substantial investment for any landlord considering entering the market. With 23.2 percent of residents renting, there's a notable demand for rental properties, making it a viable market for landlords. The median income of 75500 dollars suggests that while there are renters, they may struggle to afford market rates without assistance. Despite the lack of specific data on days on market (DOM) and the percentage of price-cut shares, the gap between the FMR and market rent indicates a stable environment for landlords who can manage Section 8 properties effectively. The slightly higher FMR compared to market rent means that landlords can potentially attract tenants who might otherwise be priced out of the market. However, the absence of detailed metrics on property turnover and pricing flexibility could pose challenges in accurately gauging the local rental market dynamics. Given these factors, landlords should focus on maintaining properties to ensure compliance with Section 8 standards, which can help in retaining tenants and avoiding costly vacancies. For small-portfolio investors, the opportunity lies in leveraging the FMR to secure steady rental income, though they must be prepared to navigate the administrative aspects of Section 8 housing. In conclusion, 1120 FMR provides a solid foundation for landlords and small-portfolio investors to consider Section 8 properties in Newville, PA, as a reliable investment option.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.