Location: York-Hanover, PA | Metro: York-Hanover, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,630 |
| 4 Bedrooms | $1,710 |
| 5 Bedrooms | $1,984 |
| 6 Bedrooms | $2,222 |
| 7 Bedrooms | $2,400 |
| 8 Bedrooms | $2,520 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 17317 within the York-Hanover, PA MSA reveals several key insights for potential real estate investments.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for ZIP 17317 in fiscal year 2024 is set at $1020. However, the market rent, according to the Census ACS, stands at $783. This indicates that the rent set by the FMR is higher than what the market currently supports, suggesting that landlords might face challenges in renting properties at the FMR rate without offering incentives or improvements.
Regarding the affordability of acquisition, the data shows that the median home value is listed as N/A, which means it's not available. Additionally, the Days on Market (DOM) and the percentage of homes needing a price cut are also not provided, making it difficult to assess how quickly homes sell and at what price point. Without these metrics, it's challenging to determine if buying properties in this area would be financially viable for small-portfolio investors looking to turn a profit through rental income.
The third consideration is tenant demand. ZIP 17317 has a population of 466, with only 8.1% being renters. This low renter share suggests that there may not be significant demand for rental properties in this area. Landlords would need to ensure they can attract and retain tenants given the limited pool of potential renters.
Verdict: The rent math does not align favorably with the current market conditions, indicating that landlords will have to either lower their expectations or enhance property offerings to meet the FMR. Acquisition costs cannot be assessed accurately due to missing data on median home values and market dynamics. Lastly, the low renter share implies that tenant demand is weak, which could result in prolonged vacancies and difficulty in finding suitable tenants. Overall, ZIP 17317 presents a challenging environment for small-portfolio investors seeking to capitalize on Section 8 opportunities.
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.