Location: York-Hanover, PA | Metro: York-Hanover, PA MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $960 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,340 |
| 3 Bedrooms | $1,770 |
| 4 Bedrooms | $1,860 |
| 5 Bedrooms | $2,158 |
| 6 Bedrooms | $2,417 |
| 7 Bedrooms | $2,610 |
| 8 Bedrooms | $2,741 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,340 | $260,024 | 0.52% | F |
| 3BR | $1,770 | $326,392 | 0.54% | F |
| 4BR | $1,860 | $413,006 | 0.45% | F |
| 5BR | $2,158 | $467,176 | 0.46% | F |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors targeting ZIP code 17362 in Spring Grove, PA, reveals that the HUD Fair Market Rent (FMR) for FY 2024 stands at $1210. This figure is notably lower than the current market rent, which is priced at $1345 according to ZORI (Zillow Observed Rent Index). The discrepancy between the HUD FMR and the market rent indicates that landlords in this area will experience marginal cash flow when accepting Section 8 vouchers. To achieve positive cash flow, landlords must either manage their expenses closely or seek out premium units that can command higher rents.
The median home value in ZIP 17362 is $327,571. Using this figure, we can calculate the rent-to-price ratio, which is an important metric for assessing the relative affordability of renting versus buying. In this case, the ratio is approximately 0.4%, indicating that the rental market is slightly less attractive compared to the home purchase market. However, this does not significantly impact the decision-making process for Section 8 investors, as the primary focus remains on the rental income rather than the potential for home ownership.
With a median Days on Market (DOM) of N/A and a price-cut share of 0.4%, it's clear that the local real estate market is relatively stable. These figures suggest that there is little need for landlords to reduce their asking prices to attract tenants, further supporting the idea that maintaining rental rates close to the market average is feasible.
The strongest investor angle in ZIP 17362 is stability. Given the low price-cut share and the marginal cash flow from Section 8 vouchers, investors should prioritize properties that offer consistent returns and minimal risk over those that promise high appreciation or immediate cash flow.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.