Location: Chambersburg, PA | Metro: Chambersburg, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,220 |
| 1 Bedroom | $1,350 |
| 2 Bedrooms | $1,650 |
| 3 Bedrooms | $2,180 |
| 4 Bedrooms | $2,380 |
| 5 Bedrooms | $2,761 |
| 6 Bedrooms | $3,092 |
| 7 Bedrooms | $3,339 |
| 8 Bedrooms | $3,506 |
U.S. Census Bureau data (2024)
In evaluating the investment risk of becoming a Section 8 landlord in ZIP code 17247, several critical factors must be considered. Firstly, tenant turnover poses a significant challenge. The market rent stands at $1,679, whereas the Fair Market Rent (FMR) for FY 2024 is set at $1,200. This discrepancy suggests that landlords may struggle to attract tenants willing to pay the higher market rent, leading to frequent turnovers. Additionally, the vacancy exposure is a concern due to the lack of data on the average days on market (DOM). Without this information, it's difficult to predict how long a property might remain vacant between tenancies.
The deferred maintenance exposure is another issue. With an average home value not specified and a median income of $52,159, landlords should expect limited funds available for property upkeep from their tenants. This situation can result in increased maintenance costs and potential structural issues if not properly managed. However, these risks must be weighed against the substantial 66.5% renter share in the area, which typically indicates a robust demand for rental properties, including those accepting Section 8 vouchers.
The high renter density in ZIP 17247 is a positive sign for landlords considering Section 8 investments. It suggests that there will likely be a steady pool of tenants who require housing assistance, thereby reducing the likelihood of prolonged vacancies. Despite the challenges posed by tenant turnover and maintenance, the strong rental market provides a counterbalance that can mitigate some of these risks.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.