Location: York-Hanover, PA | Metro: York-Hanover, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,620 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
U.S. Census Bureau data (2024)
A Section 8 investment in ZIP code 17323 presents several potential challenges that landlords must be prepared to address. First, tenant turnover can be a significant issue, as the market rent of $914 is notably lower than the Fair Market Rent (FMR) of $1200 for FY 2024. This disparity suggests that tenants may be more likely to leave when they find higher-paying jobs or move to more affordable housing options. Landlords should anticipate frequent tenant changes and factor this into their long-term financial planning.
Vacancy exposure is another concern. The Days on Market (DOM) figure is not available, which makes it difficult to predict how quickly properties might fill once vacated. In areas with high vacancy rates, landlords could face extended periods without rental income, increasing financial pressure and risk. Without specific DOM data, it's prudent to assume a cautious approach towards vacancy management.
The risk of deferred maintenance is also present. Given the lack of specific information regarding typical home values and median incomes in ZIP 17323, landlords should be wary of the potential for properties to deteriorate over time due to limited funds for repairs and upgrades. This can lead to higher costs down the line and affect the overall appeal of the property to future tenants.
Despite these risks, there are compelling factors that support the viability of a Section 8 investment in this area. The renter share is a robust 78.0%, indicating a high concentration of renters who are likely to have a strong demand for housing vouchers. This high renter density suggests that there will be a steady stream of potential tenants, which can help mitigate the risks associated with vacancy and turnover.
In conclusion, the investment risk for a first-time Section 8 landlord in ZIP 17323 is moderate. While there are notable challenges, the high renter share provides a solid foundation for maintaining occupancy levels and ensuring a stable source of income.
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.