Real Estate Investing in Millerstown, Pennsylvania (17062)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 17062 (Millerstown, PA)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 12.9% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 26.4 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Millerstown, PA (17062)?
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Market Analysis: 17062 Millerstown
ZIP 17062 inside Perry County looks affordable on the surface — median value of $307K — but the discount exists for reasons that a careful buyer should understand before committing.
Looking more closely, the numbers look inviting — $307K purchase price, 0.0% nominal cap — the work to hit that pro forma in 17062 is substantial and deserves full respect.
The gap between 17062 and stronger Millerstown ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
A healthy renter share of 12% in 17062 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
tilts toward the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Millerstown:
Market Trends
Home Value History (with trend line)
📊 How Does 17062 Compare?
| Metric | 17062 | Millerstown | Harrisburg-Carlisle, PA | Pennsylvania |
|---|---|---|---|---|
| Home Value | $307,465 | $307,465 | N/A | $278,018 |
| 5-Year CAGR | 3.8% | 3.8% | N/A | 6.3% |
| Avg Rent | $972 | $972 | N/A | - |
| Cap Rate | 2.5% | 2.5% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 17062 (Millerstown, PA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $307,465 |
| Monthly Rent | $972 |
| Price-to-Rent | 26.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.8% |
| Cap Rate | 2.5% |
| 5-Year IRR | 6.2% |
📈 Home Appreciation
| 1-Year | +5.6% ▲ |
| 3-Year CAGR | +2.9% ▲ |
| 5-Year CAGR | +3.8% ▲ |
| 10-Year CAGR | +4.6% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.5%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 17062
Population: 4,093
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 17062
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
Is real estate in Millerstown, PA a good investment right now?
Millerstown, PA rates 3.0/5 for investability. With median values at $307K and rents near $972/mo, the market offers reasonable fundamentals for rental investors.
Where do home prices stand in Millerstown, PA?
Millerstown, PA median home values land near $307K. That is reasonable territory for investors looking at $972/mo-per-month rentals.
What are rental rates like in Millerstown, PA?
Rental rates in Millerstown, PA average $972/mo. Tenant demand and $307K home values make the yield look reasonable by investor standards.
How tight is the rental market in Millerstown, PA?
Millerstown, PA carries elevated vacancy risk. Expect consistent absorption at market rents of $972/mo.
Is Millerstown, PA better for rentals, flips, or BRRRR?
Millerstown, PA investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($307K prices, $972/mo rents) make it a reasonable choice.
You know 17062 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 17062 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 17062 ranks in Harrisburg-Carlisle, PA
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