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 | $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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,210 | $271,646 | 0.45% | F |
| 3BR | $1,620 | $358,146 | 0.45% | F |
| 4BR | $1,670 | $485,477 | 0.34% | F |
U.S. Census Bureau data (2024)
Wellsville, PA, located in ZIP code 17365, is a modest-sized community with a total population of 2,897 residents. The neighborhood is predominantly owner-occupied, with only 12.9% of the residents being renters. This indicates a relatively low demand for rental properties, suggesting that the area is more suited for homeowners. The median household income in Wellsville is strong at $91,742, reflecting a financially stable community. Additionally, the median home value stands at $360,558, which is indicative of a middle to upper-middle-class residential area.
Moving into the specifics of rental economics, the Fair Market Rent (FMR) for ZIP 17365 as of the fiscal year 2024 is set at $1,020. However, the actual market rent, according to the Census Bureau's American Community Survey (ACS), is significantly lower at $765. This discrepancy between the FMR and the market rent suggests an opportunity for investors who can manage properties effectively to capture a higher rent through Section 8 vouchers without overstepping the market rates.
Given these factors, Wellsville, PA, might not be the ideal location for a hands-off voucher operator due to the low percentage of renters and the relatively high median home value, which could limit the number of available tenants. Instead, it would better suit a hands-on value-add buyer who can take advantage of the disparity between FMR and market rent to enhance property values and rents. Such an investor could focus on improving the quality of rental units to justify rents closer to the FMR while still offering a competitive price point in the local market.
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.