Location: Williamsport, PA | Metro: Williamsport, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,630 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
U.S. Census Bureau data (2024)
The ZIP code 17723 presents several challenges for landlords considering participation in the Section 8 program. First, tenant turnover can be problematic. Market rents are currently not available, but the Fair Market Rent (FMR) for FY 2024 stands at $1000. This means that if market rents are significantly higher, there might be a struggle to find tenants willing to pay the subsidized rate. Second, vacancy exposure is another concern. With no data on days on market (DOM), it's difficult to predict how quickly properties will fill, which can lead to extended periods without rental income. Third, the deferred maintenance exposure is notable. Given the typical home value of $147,168 and a median income of $77,500, many homeowners may not have the financial capacity to maintain their homes adequately, potentially leading to higher repair costs and maintenance issues for landlords.
Despite these risks, there are mitigating factors that make ZIP 17723 a viable option for Section 8 investments. The renter share is 18.2%, indicating a high concentration of renters in the area. High renter density usually correlates with greater demand for housing vouchers, making it easier to find tenants who qualify for the program. Additionally, the presence of a significant number of renters suggests a stable and continuous demand for rental housing, which can help mitigate the risk of prolonged vacancies.
Verdict: Moderate risk for a first-time Section 8 landlord in ZIP 17723.
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.