Location: Williamsport, PA | Metro: Williamsport, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,270 |
| 3 Bedrooms | $1,700 |
| 4 Bedrooms | $1,870 |
| 5 Bedrooms | $2,169 |
| 6 Bedrooms | $2,429 |
| 7 Bedrooms | $2,623 |
| 8 Bedrooms | $2,754 |
U.S. Census Bureau data (2024)
The ZIP code 17742 presents several challenges for landlords considering participation in the Section 8 program. First, tenant turnover can be a significant issue due to the discrepancy between market rent and the Fair Market Rent (FMR) set at $1110 for FY 2024. This mismatch can lead to difficulties in attracting and retaining tenants who might prefer market-rate apartments. Second, vacancy exposure is a concern because the days on market (DOM) figure is not available, indicating potential volatility in rental market conditions that could impact occupancy rates. Lastly, deferred maintenance poses a risk, particularly when the median income of $71,250 is considered alongside the lack of data on typical home values. Landlords must be prepared to handle maintenance requests promptly and efficiently, which can be costly.
However, these risks are offset by the high renter share of 27.3%. A large proportion of renters typically translates into higher demand for subsidized housing, such as Section 8 vouchers. This ensures a steady pool of potential tenants, reducing the likelihood of prolonged vacancies. The strong presence of renters also suggests a robust market for subsidized units, making it easier to find occupants willing to use their vouchers.
In summary, despite the potential pitfalls of tenant turnover, vacancy exposure, and deferred maintenance costs, the high renter density in ZIP 17742 supports a favorable environment for landlords willing to participate in the Section 8 program. Given these factors, the overall risk for a first-time Section 8 landlord in this area is moderate.
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.