Location: Union County, PA | Metro: Union County, PA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
The analysis for ZIP code 17829 reveals a significant gap between the Fair Market Rent (FMR) and the actual market rent. The FMR for the metro area in fiscal year 2026 is set at $970, while the market rent, according to the Census ACS, stands at $1,023. This means there is a $53 gap, representing approximately 5.45% of the market rent.
Given that the FMR is lower than the market rent, landlords and small-portfolio investors should be aware of the implications of accepting housing voucher tenants. These tenants typically pay only the portion of their rent covered by the voucher, which is pegged to the FMR. As a result, landlords will receive $970 per unit, rather than the market rate of $1,023. This discrepancy can translate into a loss of $53 per unit, or about 5.45% of what could be earned in the open market.
In the context of ZIP 17829, where 28.6% of residents are renters and the median household income is $80,417, landlords must carefully consider whether the benefits of having stable, government-backed rental income outweigh the financial impact of renting below market rates. While the stability provided by Section 8 vouchers can reduce vacancy risks and offer predictable cash flows, it also means foregoing the higher rents commanded by the local housing market.
Moreover, the acceptance of voucher tenants involves compliance with HUD regulations, which can add operational complexity and costs. Landlords should evaluate these factors alongside the financial gap when deciding whether to participate in the Section 8 program.
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.