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)
930 FMR (Fair Market Rent) for ZIP 17271 indicates the maximum rental amount that can be charged under the Section 8 program for fiscal year 2024. 576 is the average market rent reported by the Census Bureau's American Community Survey, showing a significant gap between the FMR and actual market rates. 271,737 represents the median home value in this area, reflecting a stable housing market. 33.3% of residents in ZIP 17271 are renters, indicating a substantial portion of the population relies on rental properties. 93,075 is the median income figure for the area, which is critical for assessing the financial health of potential tenants. While the days on market (DOM) and percentage of price-cut shares are not available, the data suggests that rental properties can command higher rates than those allowed by Section 8, making it a challenging environment for landlords participating in the program.
The disparity between the $930 FMR and the $576 market rent highlights the financial limitations landlords face when accepting Section 8 vouchers. However, the stability indicated by the $271,737 median home value and the 33.3% renter share suggest a consistent demand for rental properties. The median income of $93,075 provides insight into the economic conditions of the area but does not directly correlate with the eligibility of tenants for Section 8, which typically targets lower-income individuals.
In conclusion, while the financial returns from participating in Section 8 may be limited due to the lower FMR compared to market rents, the steady demand for rentals and the overall economic stability of ZIP 17271 make it a viable option for landlords who wish to support affordable housing initiatives. For small-portfolio investors, the decision to participate should weigh the benefits of guaranteed rent against the lower rate compared to market conditions.
Section 8 Verdict: Viable but financially limiting.
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.