Location: Schuylkill County, PA | Metro: Harrisburg-Carlisle, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,480 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
U.S. Census Bureau data (2024)
32.3% of residents in ZIP 17978 are renters, indicating a significant portion of the population relies on rental properties. This statistic underscores the potential demand for rental units in the area. The $948 market rent figure, derived from Census ACS data, reflects the average rent charged for apartments in ZIP 17978. Meanwhile, the $1110 Fair Market Rent (FMR) for the zip code in fiscal year 2024 suggests that landlords can charge slightly above the market rate while still being eligible for Section 8 subsidies. The difference between the FMR and market rent provides a buffer for landlords, ensuring they can cover costs and maintain profitability.
$65,577 is the median income for households in ZIP 17978, which is important when assessing the financial stability of potential tenants. However, it's worth noting that the median home value in the area stands at $220,149, suggesting that homeownership is more common among higher-income individuals. For those who rent, the lower median income compared to home values implies that many may rely on assistance programs like Section 8 to afford housing.
The lack of available data on days on market (DOM) and the percentage of price-cut shares indicates that there might be limited insights into how quickly properties sell or if there's a trend of lowering asking prices. This could mean that the rental market is relatively stable, without frequent fluctuations in property values or sales times.
In summary, ZIP 17978 offers a balanced opportunity for landlords and small-portfolio investors interested in Section 8 participation. With a substantial renter base and a favorable gap between market rents and FMRs, the area supports a healthy rental environment. The median income aligns well with the requirements for Section 8 eligibility, making it a viable option for securing long-term tenants. Given these factors, landlords should consider participating in Section 8 to capitalize on the steady demand and financial support.
Verdict: ZIP 17978 is a good fit for Section 8 landlords and investors.
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.