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)
The analysis for landlords and small-portfolio investors in ZIP code 17355 reveals a critical gap between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2024, the FMR is set at $1050, while the Census American Community Survey (ACS) indicates that the market rent stands at $1,069. This means there is a gap of $19, representing a 1.8% difference between the two figures.
Given that the FMR is lower than the market rent, landlords who accept housing vouchers are essentially agreeing to rent their properties at a rate below the open-market level. This discrepancy can impact profitability and requires careful consideration of the costs associated with maintaining and managing properties under the Section 8 program.
The implications of renting at a rate below the market are significant. Landlords must weigh the benefits of stable, government-backed rental income against the potential financial shortfall. Accepting voucher tenants can be seen as a strategic decision to ensure occupancy and avoid vacancy costs, which can be substantial. However, it also means landlords might not maximize their income potential, given the higher market rents.
In ZIP 17355, where 63.5% of residents are renters, the demand for affordable housing is high. While the median home value and median income data are currently unavailable, the high percentage of renters suggests a robust need for housing assistance programs like Section 8. Landlords should consider the broader economic context and the importance of providing affordable housing options to maintain a positive community standing and potentially benefit from long-term tenant relationships.
To summarize, the gap between the FMR and market rent in ZIP 17355 highlights the trade-offs involved in accepting Section 8 tenants. Landlords must decide whether the stability and security of voucher-backed rent outweighs the slightly reduced income compared to open-market rates. This decision should be informed by the local rental market dynamics and the landlord's overall investment strategy.
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.