Location: Chambersburg, 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 | $950 |
| 1 Bedroom | $1,110 |
| 2 Bedrooms | $1,370 |
| 3 Bedrooms | $1,830 |
| 4 Bedrooms | $1,960 |
| 5 Bedrooms | $2,274 |
| 6 Bedrooms | $2,547 |
| 7 Bedrooms | $2,751 |
| 8 Bedrooms | $2,889 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,370 | $212,857 | 0.64% | D |
| 3BR | $1,830 | $279,603 | 0.65% | D |
| 4BR | $1,960 | $372,960 | 0.53% | F |
| 5BR | $2,274 | $437,323 | 0.52% | F |
U.S. Census Bureau data (2024)
Waynesboro, PA, located in ZIP code 17268, stands out within Franklin County due to its unique demographic and economic characteristics. With a population of 29,362 residents, 28.8% of whom rent their homes, the area has a median household income of $73,161 and a median home value of $274,879. These figures suggest a community that is moderately affluent, with a significant portion of the population choosing to rent rather than own.
The dynamics of rental housing in Waynesboro are particularly interesting when considering the Section 8 voucher program. The Fair Market Rent (FMR) for a one-bedroom apartment in ZIP 17268 for fiscal year 2024 is set at $1,200, while the Zillow Observed Rent Index (ZORI) indicates a market rate of $1,367. This disparity means that landlords accepting Section 8 vouchers in Waynesboro can expect to receive approximately $167 less per month compared to market rates. However, the lower FMR still represents a reasonable rental income, especially given the relatively high median home value and median income levels in the area.
The data signature for Waynesboro, PA, suggests a stable environment. The median income and home values indicate a consistent economic base, which supports steady demand for both rental and homeownership options. The balance between renters and homeowners, along with the close alignment of FMR to market rents, points towards a predictable and stable rental market. For landlords and small-portfolio investors, Waynesboro offers a reliable setting where Section 8 vouchers can be effectively utilized without significant financial risk.
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.