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 |
The analysis of ZIP code 17585 in Lancaster, PA MSA reveals several critical points for landlords and small-portfolio investors.
The rent math does not work favorably due to the lack of market rent data. The Fair Market Rent (FMR) for the zip code in fiscal year 2024 is set at $1330. Without a comparison to the actual market rent, it's challenging to determine if this figure aligns with what tenants are willing to pay. This uncertainty can impact profitability and investment decisions.
Acquisition affordability cannot be assessed accurately without the median home value, days on market (DOM), and the percentage of homes that have been discounted. These metrics are crucial for understanding how competitive the housing market is and whether properties are being sold at prices that make sense for an investment portfolio. The absence of these figures means that potential investors must look elsewhere for reliable indicators of property value and market conditions.
Tenant demand remains unclear without specific population and renter share percentages. Knowing the total number of residents and the proportion who are renters would provide insight into the size of the potential tenant pool. This information is vital for gauging the likelihood of finding and retaining tenants in the area.
Verdict: Investing in ZIP code 17585 presents significant challenges due to incomplete data. Landlords and small-portfolio investors should seek additional local market intelligence before making any financial commitments. The lack of market rent data makes it difficult to ensure that the rent math works in your favor, while missing information on median home values, DOM, and price-cut shares hinders the ability to assess acquisition affordability. Similarly, without knowing the population and renter share, predicting tenant demand is speculative. Additional research is essential to fill these gaps and make informed decisions.
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.