Location: Gettysburg, PA | Metro: Gettysburg, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,040 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,820 |
| 4 Bedrooms | $1,950 |
| 5 Bedrooms | $2,262 |
| 6 Bedrooms | $2,533 |
| 7 Bedrooms | $2,736 |
| 8 Bedrooms | $2,873 |
U.S. Census Bureau data (2024)
The market in ZIP code 17306 presents a dynamic landscape that can be interpreted through the lens of its current metrics. With a Fair Market Rent (FMR) set at $1,540 for fiscal year 2024, landlords and small-portfolio investors should note the disparity between this benchmark and the actual market rent, which stands at $1,172 according to the Census American Community Survey (ACS).
This gap suggests that while there is an established threshold for what is considered fair rent, the prevailing market conditions have driven rental rates below this level. This could indicate either a landlord-driven strategy to attract tenants or a broader trend where supply might be outpacing demand, leading to downward pressure on rents.
The median home value in ZIP 17306 is $229,858. While this figure provides insight into the overall property values, it's important to consider how it aligns with the rental market dynamics. A lower market rent relative to FMR may suggest that homeownership is becoming more attractive compared to renting, potentially indicating a shift in the local housing market towards a more balanced state.
With a 26.1% renter share, the ZIP code reflects a significant portion of the population choosing to rent rather than own. This percentage points to a sustained long-term housing pressure, as a higher proportion of renters typically indicates a lack of affordability or accessibility for homeownership. It signals that the area continues to rely heavily on rental properties, which could mean that landlords and investors who cater to this segment will find a consistent demand.
The dynamics of ZIP 17306 reveal a market where rental prices are currently below the government-set fair market rate, suggesting potential opportunities for both landlords and investors to adjust their strategies accordingly. Whether this reflects a temporary condition or a more permanent shift in market preferences remains to be seen, but the current snapshot indicates a market in flux, influenced by both supply and demand factors.
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.