Skip to main content
Loading page
Cumberland County/Shippensburg/17257

17257

ZIPSAFMR
Cumberland County, PA
Zillow

ZIP Investment Score

63Below average

095130300
BRFMR
Eff. Rent
0 BR$1,000$760
1 BR$1,120$880
2 BR$1,390$1,240
3 BR$1,810$1,580
4 BR$1,880$1,830
5 BR$2,162Not available
6 BR$2,486Not available
7 BR$2,859Not available
8 BR$3,288Not available

Purchase Price Calculator

Maximum purchase price
$122,347

Cost breakdown

+Likely effective rent$1,240
HUD FMR$1,390
Market rentUsed$1,240
Est. payment standard (93%)$1,290
-Principal and interest-$619
Loan amount$97,878
Down payment$24,469
Rate6.50%
Term30 years
-Operating costs-$421
Property taxes-$122
Insurance-$175
Utilities$0
HOA$0
Management-$124
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$20,114(82.2% ROI)
Projected value
$131,754
Return breakdown
Property appreciation+$9,407
Loan principal paid down+$3,507
Rental cash flow+$7,200
5-year hold
+$34,331(140.3% ROI)
Projected value
$138,424
Return breakdown
Property appreciation+$16,077
Loan principal paid down+$6,253
Rental cash flow+$12,000
10-year hold
+$73,168(299.0% ROI)
Projected value
$156,615
Return breakdown
Property appreciation+$34,268
Loan principal paid down+$14,901
Rental cash flow+$24,000

Public Housing Authority

Loading Public Housing Authority

Rolodex

Loading Rolodex

Market Alignment

Studio
1.32
1 BR
1.27
2 BR
1.12
3 BR
1.15
4 BR
1.03
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 17257 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 17257 (Shippensburg, PA) is $1,390 a month. That is up 1.5% from $1,370 in FY 2026. Shippensburg is in the Harrisburg-Carlisle, PA MSA, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 25 ZIP codes in Cumberland County, 17257 has the 15th-highest two-bedroom rent (county range $1,050–$1,980). The median county two-bedroom FMR in Pennsylvania is $1,136, so ZIP 17257 is 22% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 17257
BedroomsFY 2027Change90–110% range
Studio$1,000+2.0%$900–$1,100
1BR$1,120+0.9%$1,008–$1,232
2BR$1,390+1.5%$1,251–$1,529
3BR$1,810+1.7%$1,629–$1,991
4BR$1,880+0.5%$1,692–$2,068

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 17257
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,000$1,120$1,390$1,810$1,880
FY 2026$980$1,110$1,370$1,780$1,870
FY 2025$890$1,000$1,230$1,600$1,700
FY 2024$830$920$1,150$1,490$1,590
FY 2023$800$880$1,110$1,450$1,540

Two-bedroom rent in nearby Cumberland County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 17257
17070$1,260−9.4%
17072$1,630+17.3%
17081$1,580+13.7%
17089$1,630+17.3%
17090$1,140−18.0%
17093$1,490+7.2%
17240$1,720+23.7%
17241$1,350−2.9%
17257Current$1,390—
17266$1,270−8.6%
17307$1,050−24.5%
17324$1,140−18.0%

Questions about ZIP 17257 rents

How much will Section 8 pay for a two-bedroom in ZIP 17257?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,390, that basic range is $1,251 to $1,529 a month. 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 17257 in?

ZIP 17257 is in the Harrisburg-Carlisle, PA MSA. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 17257 for FY 2027?

The two-bedroom FMR rose 1.5%, from $1,370 in FY 2026 to $1,390 in FY 2027. Since FY 2023 it has risen 25.2%.

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