Location: Williamsport, PA | Metro: Williamsport, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
U.S. Census Bureau data (2024)
5.8% of the population in ZIP code 17720 are renters, indicating a modest demand for rental properties in the area. The $638 market rent figure, derived from Census ACS data, reflects the average monthly rent paid by tenants in this region. This is notably lower than the $1080 Fair Market Rent (FMR) set for zip code 17720 for fiscal year 2024, suggesting a potential opportunity for landlords to increase rents without pricing out the local market.
The absence of a median home value and days on market (DOM) data points to a limited supply of homes for sale, which can be advantageous for those looking to invest in rental properties rather than owner-occupied homes. The lack of data on the percentage of price-cut share further supports this idea, implying stable property values and a steady rental market.
$70,300 is the median income in ZIP 17720, which is crucial for understanding the financial capacity of potential tenants. Given the disparity between the market rent and the FMR, it's evident that the local economy can support higher rental rates, especially for properties that meet or exceed the quality standards set by the housing authority.
To summarize, the rental market in ZIP 17720 appears to be stable with modest growth potential. Landlords can leverage the difference between the current market rent and the FMR to adjust their pricing strategies. The relatively low renter share suggests a competitive but manageable market for new entrants. With a solid median income, there is a reasonable expectation that tenants will be able to afford increased rents.
Section 8 Verdict: Suitable for investment, given the stable rental market and potential for rent increases to match the FMR.
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.