Location: York-Hanover, PA | Metro: York-Hanover, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,230 |
| 1 Bedroom | $1,340 |
| 2 Bedrooms | $1,710 |
| 3 Bedrooms | $2,260 |
| 4 Bedrooms | $2,380 |
| 5 Bedrooms | $2,761 |
| 6 Bedrooms | $3,092 |
| 7 Bedrooms | $3,339 |
| 8 Bedrooms | $3,506 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 17371 reveals several key points that will influence investment decisions. The HUD Fair Market Rent (FMR) for FY 2024 is set at $1440, which serves as a benchmark for rental rates in the area.
Unfortunately, the current market rent data for ZIP 17371 is unavailable, making it difficult to directly compare the HUD FMR against typical market rates. However, based on the HUD FMR alone, landlords can expect that voucher tenants will generally cashflow at this rate, assuming the property is well-maintained and competitively priced within the voucher program's guidelines. In areas where market rents are higher, the FMR might only support marginal cashflow or require premium units to ensure profitability.
The median home value in ZIP 17371 is also currently unavailable, which limits our ability to calculate an accurate rent-to-price ratio. This ratio would typically provide insight into the relative affordability of renting versus buying in the area. Without this information, we cannot fully assess how the local housing market might impact the decision between renting and owning a home.
Similarly, the median days on market (DOM) and the percentage of homes that required price reductions are not available, which means we lack specific indicators of the local housing market's liquidity and competitiveness. These metrics could be crucial in understanding how quickly properties are turning over and the level of competition among buyers, which indirectly affects the rental market.
In summary, while detailed market rent and home value data are lacking for ZIP 17371, the HUD FMR of $1440 provides a solid foundation for pricing rental units that cater to voucher tenants. Given the absence of market rent data, it is reasonable to assume that voucher tenants will cashflow at the FMR rate, though the exact dynamics would benefit from additional data. The strongest investor angle in this scenario appears to be stability, as relying on government-backed vouchers can offer a consistent and predictable income stream compared to market fluctuations.
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.