Location: Columbia County, PA | Metro: Williamsport, PA MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $900 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,290 |
| 3 Bedrooms | $1,720 |
| 4 Bedrooms | $1,900 |
| 5 Bedrooms | $2,204 |
| 6 Bedrooms | $2,468 |
| 7 Bedrooms | $2,665 |
| 8 Bedrooms | $2,798 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,720 | $322,161 | 0.53% | F |
U.S. Census Bureau data (2024)
The market in ZIP code 17774 is characterized by a significant gap between the Fair Market Rent (FMR) and the actual market rent, suggesting that the area is experiencing some form of housing pressure. The FMR set at $1180 for fiscal year 2024 contrasts with the reported market rent of $796, based on Census ACS data. This discrepancy indicates that the government's estimate for what is considered fair rent exceeds what the market is currently bearing, which could be due to several factors including affordability issues among tenants or a mismatch between rental units and the needs of the local population.
The median home value of $301,667 provides insight into the overall property values within the ZIP code. However, without specific data on the rate of price cuts or days on market (DOM), it is challenging to definitively state whether supply is outpacing demand or vice versa. Nonetheless, the relatively low market rent compared to the FMR might suggest that there is a sufficient supply of rental units to keep rents down, even if it doesn't necessarily indicate an excess of supply over demand.
The 14.8% renter share reveals a dynamic where a notable portion of the population opts for renting rather than owning. This figure implies that there is a segment of the community facing challenges in transitioning to homeownership, possibly due to financial constraints or preference for renting. Over the long term, this can contribute to sustained housing pressure as the demand for rental properties remains steady or grows, particularly if the economic conditions or preferences do not shift significantly.
In summary, ZIP 17774 presents a market where the balance between renters and homeowners is tilted towards a higher dependency on rentals, despite the median home value being within a range that could support homeownership. The gap between FMR and market rent suggests that while the government aims to ensure affordable housing, the market dynamics are setting a lower standard, which landlords and small-portfolio investors should consider when pricing their rental units.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.