Location: Chambersburg, PA | Metro: Chambersburg, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $920 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,650 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 17265 are straightforward. The SAFMR (Section 8 Area Fair Market Rent) for a two-bedroom apartment is set at $1180 for fiscal year 2024. This figure represents the maximum amount that the Housing Choice Voucher program will pay towards rent in this specific ZIP code. However, it's important to note that the local market rent for a similar unit is much lower, running at approximately $660 according to the latest Census ACS data.
A voucher payment is composed of two parts: the tenant contribution and the utility allowance. Tenants are required to contribute 30% of their adjusted income towards rent. For example, if a tenant has an adjusted monthly income of $1000, they would contribute $300 towards the rent. The utility allowance is a fixed amount that varies based on the size of the dwelling and the type of utilities included in the lease. In ZIP 17265, the utility allowance for a two-bedroom apartment is typically around $200.
To illustrate, let's assume a landlord charges the maximum SAFMR of $1180 for a two-bedroom unit. If the tenant contributes $300 and receives a utility allowance of $200, the total reimbursement received by the landlord would be $1180. However, this does not necessarily mean a surplus because the local market rent is significantly lower at $660.
The typical reimbursement gap or surplus can be calculated by comparing the SAFMR to the local market rent. In ZIP 17265, the reimbursement exceeds the local market rent by $520 per month ($1180 - $660). This means landlords can expect a surplus when renting to Section 8 tenants, assuming they charge the maximum allowable rent under the program.
Landlords should also be aware that the SAFMR is subject to change annually based on HUD’s assessment of housing costs. It's crucial to stay informed about these changes to adjust rental pricing accordingly and ensure compliance with the program.
In summary, the SAFMR in ZIP 17265 for a two-bedroom apartment is $1180, while the local market rent is $660. Landlords who participate in the Section 8 program can expect a surplus of $520 per month, given these figures.
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.