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Lebanon County/Cornwall/17016

17016

ZIPSAFMR
Lebanon County, PA
Zillow

ZIP Investment Score

66Below average

095130300
BRFMR
Eff. Rent
0 BR$1,490$1,350
1 BR$1,610$1,390
2 BR$2,030$1,540
3 BR$2,610$1,550
4 BR$2,840$1,670
5 BR$3,266Not available
6 BR$3,756Not available
7 BR$4,319Not available
8 BR$4,967Not available

Purchase Price Calculator

Maximum purchase price
$166,927

Cost breakdown

+Likely effective rent$1,540
HUD FMR$2,030
Market rentUsed$1,540
Est. payment standard (90%)$1,830
-Principal and interest-$844
Loan amount$133,542
Down payment$33,385
Rate6.50%
Term30 years
-Operating costs-$496
Property taxes-$167
Insurance-$175
Utilities$0
HOA$0
Management-$154
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$24,820(74.3% ROI)
Projected value
$179,762
Return breakdown
Property appreciation+$12,835
Loan principal paid down+$4,784
Rental cash flow+$7,200
5-year hold
+$42,468(127.2% ROI)
Projected value
$188,862
Return breakdown
Property appreciation+$21,936
Loan principal paid down+$8,532
Rental cash flow+$12,000
10-year hold
+$91,084(272.8% ROI)
Projected value
$213,681
Return breakdown
Property appreciation+$46,754
Loan principal paid down+$20,330
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.10
1 BR
1.16
2 BR
1.32
3 BR
1.68
4 BR
1.70
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 17016 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 17016 (Cornwall, PA) is $2,030 a month. That is down 4.2% from $2,120 in FY 2026. Cornwall is in the Lebanon, PA MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,353. Among 24 ZIP codes in Lebanon County, 17016 has the highest two-bedroom rent (county range $1,270–$2,030). The median county two-bedroom FMR in Pennsylvania is $1,136, so ZIP 17016 is 79% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 17016
BedroomsFY 2027Change90–110% range
Studio$1,490−3.9%$1,341–$1,639
1BR$1,610−3.6%$1,449–$1,771
2BR$2,030−4.2%$1,827–$2,233
3BR$2,610−3.3%$2,349–$2,871
4BR$2,840−3.4%$2,556–$3,124

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 17016
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,490$1,610$2,030$2,610$2,840
FY 2026$1,550$1,670$2,120$2,700$2,940
FY 2025$1,370$1,500$1,900$2,410$2,570
FY 2024$1,350$1,430$1,840$2,320$2,450
FY 2023$1,190$1,260$1,640$2,080$2,200

Two-bedroom rent in nearby Lebanon County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 17016
17003$1,340−34.0%
17010$1,540−24.1%
17016Current$2,030—
17026$1,420−30.0%
17028$1,470−27.6%
17033$1,710−15.8%
17038$1,270−37.4%
17039$1,640−19.2%
17041$1,610−20.7%
17042$1,370−32.5%
17046$1,290−36.5%
17064$1,630−19.7%

Questions about ZIP 17016 rents

How much will Section 8 pay for a two-bedroom in ZIP 17016?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,353, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,218 to $1,488 a month; under the ZIP-level Small Area FMR of $2,030 it would be $1,827 to $2,233. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 17016 in?

ZIP 17016 is in the Lebanon, PA MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,353.

How much did fair market rent change in ZIP 17016 for FY 2027?

The two-bedroom FMR fell 4.2%, from $2,120 in FY 2026 to $2,030 in FY 2027. Since FY 2023 it has risen 23.8%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentCornwall, PA fair market rentPA statewide rentsWhat is SAFMR?Data sources