Section 8 Fair Market Rent (FMR) for ZIP 17402 - 2027

Location: York-Hanover, PA | Metro: York-Hanover, PA MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,070
1 Bedroom	$1,170
2 Bedrooms	$1,490
3 Bedrooms	$1,970
4 Bedrooms	$2,070
5 Bedrooms	$2,401
6 Bedrooms	$2,689
7 Bedrooms	$2,904
8 Bedrooms	$3,049

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

37,466

Median Household Income

$81,166

Housing Units

14,908

Renter Percentage

27.5%

Occupancy Rate

97.7%

Renter Occupied

4,005

Housing Authorities Serving ZIP 17402

Housing Authority of the City of York (York, PA) - 1,722 Section 8 vouchers

To determine if a landlord should invest in ZIP 17402 (York, PA) for Section 8 properties, follow this decision tree based on the provided data:

Step 1: Does the Fair Market Rent (FMR) of $1300 cover the debt service on a property valued at $325,261?

No: If the FMR does not cover the debt service, investing in Section 8 properties in this ZIP code is not financially viable. The debt service typically includes mortgage payments, insurance, and property taxes. Given the property value, these costs likely exceed the FMR.
Yes: Proceed to Step 2.

Step 2: How does the Zillow Observed Rental Index (ZORI) of $1,592 compare to the FMR of $1300?

ZORI is above FMR: The market rent is higher than the FMR, indicating that landlords can potentially earn more by renting to non-Section 8 tenants. However, this also means that the Section 8 program might struggle to find suitable properties, reducing the likelihood of securing long-term Section 8 tenants.
ZORI is equal to or below FMR: Proceed to Step 3.

Step 3: Is there sufficient demand for rental properties in ZIP 17402?

27.5% of the population are renters, and the days on market (DOM) average is 9 days: This suggests a strong rental market with high demand. With a significant portion of the population renting and a quick turnover rate, landlords are likely to find tenants easily. However, the competition between Section 8 and market-rate rents must be considered.

In summary, a landlord should only consider purchasing a property in ZIP 17402 for Section 8 if the FMR of $1300 covers the debt service on a $325,261 property. If the ZORI of $1,592 exceeds the FMR, it's more profitable to target market-rate tenants. If ZORI is at or below FMR, the 27.5% rental rate and 9-day DOM indicate sufficient demand, making it a feasible investment. However, landlords must weigh the benefits of Section 8 against the potential for higher income from market-rate rentals.

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.