Location: Lancaster, PA | Metro: Lancaster, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,150 |
| 1 Bedroom | $1,250 |
| 2 Bedrooms | $1,550 |
| 3 Bedrooms | $1,970 |
| 4 Bedrooms | $2,040 |
| 5 Bedrooms | $2,366 |
| 6 Bedrooms | $2,650 |
| 7 Bedrooms | $2,862 |
| 8 Bedrooms | $3,005 |
1330 is the Fair Market Rent (FMR) for ZIP 17567 in Pennsylvania for fiscal year 2024. This figure represents the maximum amount a landlord can charge for a unit under the Section 8 program. Despite the FMR being set at 1330, the actual market rent for the area remains unspecified, indicating a lack of comprehensive data on current rental rates. Similarly, the median home value in ZIP 17567 is not available, suggesting that residential property values may vary widely or are not well-documented. The percentage of renters in the area is also unknown, making it difficult to gauge the demand for rental properties. Median income data is similarly absent, which means there's limited insight into the financial health and earning capacity of the local population. Days on Market (DOM) data is unavailable, so we cannot determine how quickly properties are typically leased in this area. Lastly, the percentage of listings that have been price-cut is also unspecified, leaving us without information on how competitive the rental market might be.
The 1330 FMR for ZIP 17567 sets a clear guideline for landlords participating in the Section 8 program. However, the absence of other key metrics such as market rent, median home value, renter share, median income, DOM, and price-cut share limits our ability to provide a detailed analysis of the overall investment climate in the area. Landlords should carefully consider the implications of relying solely on the Section 8 program for rental income, given the lack of supplementary data points that would typically inform broader investment decisions.
Section 8 Verdict: Participate cautiously; rely on the 1330 FMR but seek additional local insights due to missing critical market data.
Data Sources: FMR data from HUD (2027).
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.