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 |
The investment risk assessment for ZIP code 17310 in Unknown, PA, highlights several potential issues that landlords should be aware of when considering Section 8 properties. Tenant turnover is a significant concern, especially when comparing the market rent to the Fair Market Rent (FMR) of $1230 for FY 2024. While the market rent data is currently unavailable, it's crucial to understand that higher turnover rates can lead to increased costs in terms of maintenance and vacancy periods.
Vacancy exposure is another critical factor, particularly when the days on market (DOM) data is also not available. This lack of information makes it challenging to predict how quickly a property might be rented out, potentially leading to extended periods without rental income. Additionally, the absence of data regarding the typical home value and median income in the area indicates a possible risk of deferred maintenance. Without knowing these figures, landlords cannot accurately gauge the financial health of their tenants and the likelihood of timely repairs being covered.
Despite these risks, the high proportion of renters in ZIP 17310—though the exact percentage is currently unknown—typically translates into strong demand for housing vouchers. This demand can help mitigate some of the risks associated with vacancy and tenant turnover, as there is likely to be a steady pool of eligible tenants looking for affordable housing options.
In summary, while there are significant uncertainties due to missing data on market rents, days on market, typical home values, and median incomes, the high renter density suggests a robust demand for Section 8 properties. However, the lack of specific figures to assess these factors leads to an overall moderate risk for a first-time Section 8 landlord in ZIP 17310.
Data Sources: FMR data from HUD (2027).
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.