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 | $1,040 |
| 1 Bedroom | $1,130 |
| 2 Bedrooms | $1,400 |
| 3 Bedrooms | $1,790 |
| 4 Bedrooms | $1,840 |
| 5 Bedrooms | $2,134 |
| 6 Bedrooms | $2,390 |
| 7 Bedrooms | $2,581 |
| 8 Bedrooms | $2,710 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,400 | $331,164 | 0.42% | F |
| 3BR | $1,790 | $387,835 | 0.46% | F |
| 4BR | $1,840 | $538,166 | 0.34% | F |
| 5BR | $2,134 | $1,027,544 | 0.21% | F |
U.S. Census Bureau data (2024)
The potential risks for investing in Section 8 properties in ZIP code 17566 in Quarryville, PA, include significant tenant turnover due to the disparity between the market rent of $1,297 and the Fair Market Rent (FMR) of $1,290 for FY 2024. This slight difference can cause tenants to seek higher-value accommodations outside the FMR limit, leading to frequent changes in occupancy.
Vacancy exposure is another concern, as the days on market (DOM) data is currently unavailable. This makes it difficult to predict how long a property might remain vacant between tenancies, potentially leading to financial losses for landlords.
Deferred maintenance is also a notable risk, especially considering the typical home value of $419,991 and the median income of $78,108. The median income suggests that many residents may struggle to afford substantial out-of-pocket expenses, which can result in landlords having to cover unexpected repair costs. This financial burden can be particularly challenging if the property is not generating sufficient revenue to offset these expenses.
However, these risks are somewhat mitigated by the high renter share of 27.5%. High renter density often translates into greater demand for housing vouchers, which can provide a steady stream of tenants willing to use Section 8 assistance. This demand helps ensure that vacancies are less likely and can stabilize rental income over time.
In conclusion, the overall risk for a first-time Section 8 landlord in ZIP 17566 is moderate.
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.