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 ZIP code 17408, located in York, PA, falls within the York-Hanover, PA MSA. To analyze its position relative to other ZIP codes in this metro area, we can examine several key metrics: Fair Market Rent (FMR), market rent, home value, and renter share.
ZIP 17408 has an FMR of $1,440 for fiscal year 2024, which is slightly lower than the market rent of $1,608. This suggests that while the government subsidy covers a significant portion of rental costs, there might still be a slight gap that landlords need to consider. The home value in this ZIP code is listed at $295,084, which is likely representative of the broader York-Hanover MSA's average home values. However, the renter share stands at 25.9%, indicating a notable proportion of renters within the area.
Based on these figures, ZIP 17408 appears to be a mid-tier neighborhood within the York-Hanover, PA MSA. It offers a balance between affordability and market conditions. The FMR being slightly below the market rent indicates that it is neither a value pocket nor a premium sub-market but rather a segment where Section 8 tenants can find housing options that are close to market rates without significant subsidies.
A noteworthy divergence is the relatively high renter share combined with home values that align closely with the metro average. This characteristic often signals a sweet spot for Section 8 investments, as it suggests a robust demand for rental properties among subsidized tenants. Landlords and small-portfolio investors should take note of this trend, as it could mean a steady stream of qualified tenants seeking affordable housing options within a reasonable range of market prices.
To further contextualize these findings, it would be beneficial to compare 17408's metrics against the broader averages within the York-Hanover MSA. However, based on the provided data, it is evident that ZIP 17408 presents a viable opportunity for those interested in Section 8 properties, offering a blend of accessibility and market alignment.
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.