Location: Northumberland County, PA | Metro: Northumberland County, PA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,420 |
| 5 Bedrooms | $1,647 |
| 6 Bedrooms | $1,845 |
| 7 Bedrooms | $1,993 |
| 8 Bedrooms | $2,093 |
U.S. Census Bureau data (2024)
A skeptical investor might question whether the Fair Market Rent (FMR) of $970 for ZIP 17840 (Locust Gap, PA) can sufficiently cover the mortgage on an average-priced home. The average home price in this area is currently unavailable, making it challenging to provide a precise calculation. However, based on the typical mortgage rates and down payment requirements, an investor should ensure that their rental income will comfortably exceed their monthly mortgage payments.
The rental market demand at 25.9% could be seen as a concern. This percentage indicates the proportion of renters in the area. To put this into perspective, a lower percentage suggests fewer potential tenants. Yet, the data does not specify if this is higher or lower than the national average. Given the limited data, we cannot definitively conclude whether this represents a strong or weak rental market. Nonetheless, it's important to consider other factors such as job availability and commuting patterns to gauge the overall attractiveness of the area for renters.
Regarding housing vouchers, the data does not directly state whether they will keep pace with market rents in ZIP 17840. The Section 8 Housing Choice Voucher program aims to assist low-income families in finding affordable housing. While the program is designed to adjust to market conditions, the specifics for this ZIP code are not provided. Investors should monitor local HUD announcements and trends in voucher usage to stay informed on how these adjustments might affect their properties.
To make a well-informed decision, an investor should look beyond these figures and consider additional metrics such as vacancy rates, property taxes, and maintenance costs. These factors collectively determine the feasibility and profitability of investing in ZIP 17840.
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.