Location: Lancaster, PA | Metro: Lancaster, 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 | $1,500 |
| 1 Bedroom | $1,630 |
| 2 Bedrooms | $2,020 |
| 3 Bedrooms | $2,570 |
| 4 Bedrooms | $2,650 |
| 5 Bedrooms | $3,074 |
| 6 Bedrooms | $3,443 |
| 7 Bedrooms | $3,718 |
| 8 Bedrooms | $3,904 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,570 | $456,788 | 0.56% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 17505 in fiscal year 2024 is set at $1,640. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program, which is based on the Housing Choice Voucher (HCV) program. It's important to note that this is the payment standard, not the actual rent you will receive. The U.S. Department of Housing and Urban Development (HUD) uses this number to ensure that rents are reasonable and affordable.
In comparison, the average rent for ZIP 17505, according to the latest Census American Community Survey (ACS), is $1,417. This indicates that the FMR is slightly higher than the market average, which could be beneficial if your property meets the quality standards required by the program.
The demand for rental properties in ZIP 17505 is significant, with 34.7% of residents being renters. This high percentage suggests a robust market for rentals, particularly those that qualify for Section 8 vouchers. With such a large portion of the population seeking housing assistance, there is a good chance of finding tenants who need your property.
When considering the purchase of a rental property in this area, the median home value stands at approximately $585,506. This figure can help you understand the potential acquisition costs and the investment needed to enter the Section 8 market in this ZIP code.
Before proceeding with a Section 8 rental, it is crucial to verify that your property meets all the necessary requirements for the program. These include passing a housing inspection to ensure that the unit is safe, decent, and sanitary. Additionally, you must confirm that the rent you seek is within the allowable range set by HUD. This will ensure that you are eligible to participate in the program and receive the stipulated payments.
By adhering to these guidelines, you can make an informed decision about whether Section 8 is a suitable option for your first rental in ZIP 17505. The FMR of $1,640 provides a clear benchmark for your rent, while the local average of $1,417 and the high renter share of 34.7% indicate strong demand for affordable housing in the area.
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.