Location: Gettysburg, PA | Metro: Gettysburg, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $910 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,660 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 17303, located in the Gettysburg, PA MSA, reveals several key points regarding its viability for Section 8 real-estate investment.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for the zip code in fiscal year 2024 is set at $1230. In contrast, the market rent, according to Census ACS data, stands at $885. This indicates that the rent math does indeed work in favor of landlords participating in the Section 8 program, as they can receive a higher rental rate compared to the current market average.
Regarding the affordability of acquisitions, the data shows a median home value of N/A and an average of N/A days on the market (DOM) with N/A% of homes experiencing price cuts. These figures suggest that while specific metrics are unavailable, the lack of DOM and price cut data might indicate a stable market where homes are selling without significant discounts or prolonged listing periods. However, the absence of a median home value makes it difficult to assess the overall cost of property acquisition.
The third question concerns tenant demand. With a total population of 395 and a renter share of 32.7%, there is a moderate level of potential tenants. This suggests that there is sufficient demand to fill rental properties, but the small population size limits the number of available renters. Given the localized nature of this market, it is important for landlords to ensure their properties meet the needs of the community.
In conclusion, ZIP 17303 presents a favorable environment for Section 8 investments due to the positive rent math, with FMR rates significantly exceeding market rents. While the lack of specific median home values and DOM/price cut data complicates the assessment of acquisition costs, the moderate tenant demand suggests that well-managed properties will likely find occupants. Landlords should focus on maintaining quality and compliance with Section 8 requirements to capitalize on these conditions.
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.