Updated 2026 · Based on median market data for Harrisburg, PA
The median monthly rent in Harrisburg, PA is $1,020, translating to $12,240 in annual gross rental income per unit. The rent-to-price ratio is 0.66% — well below the 1% rule, making pure cash flow investing challenging at median prices.
Renters in Harrisburg spend approximately 32% of the local median household income ($38,400) on rent. This exceeds the standard 30% affordability threshold, suggesting rent growth may face resistance — but it also means a large portion of the population finds buying even more out of reach, supporting rental demand.
The vacancy rate in Harrisburg is 6.5%. This is a healthy vacancy rate that indicates balanced supply and demand. You should be able to find quality tenants without extended vacancies, though expect normal turnover periods of 2-4 weeks between tenants. Population growth of 0.1% annually provides stable demand.
Harrisburg's GRM (price divided by annual rent) is 12.7x. A GRM between 12-16x is moderate and typical of balanced markets. Deals can work but you need to keep expenses controlled. For comparison, the national average GRM for investment-grade rentals is approximately 13-15x.
At the median rent of $1,020/mo, a single-family rental in Harrisburg generates approximately $12,240 in gross annual income. After accounting for 6.5% vacancy ($796 lost), property taxes of $2,170, insurance (~$620), and maintenance (~$620), the estimated NOI is $8,034 per year, or $670/mo.