Location: Clinton County, PA | Metro: Clinton County, PA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,680 |
| 5 Bedrooms | $1,949 |
| 6 Bedrooms | $2,183 |
| 7 Bedrooms | $2,358 |
| 8 Bedrooms | $2,476 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $85,541 | 1.18% | B |
| 3BR | $1,340 | $66,927 | 2% | A+ |
| 4BR | $1,680 | $72,207 | 2.33% | A+ |
U.S. Census Bureau data (2024)
The Section 8 thesis for real estate investment in ZIP code 17764, which encompasses Renovo, PA, is centered around the significant gap between the Fair Market Rent (FMR) and the actual market rent. The FMR for the metro area in fiscal year 2026 is set at $970, while the Census ACS reports the average market rent at $695. This creates a $275 difference, or a 39.5% premium, that landlords can leverage.
Voucher tenants under the Section 8 program provide a stable source of rental income due to the federal government's guarantee to cover the rent shortfall up to the FMR level. Given the substantial premium in Renovo, landlords who accept Section 8 vouchers can expect a higher yield on their investments compared to the open market rent. The $970 FMR, when applied to eligible units, ensures a steady cash flow that surpasses the local market rate, making it an attractive option for landlords and small-portfolio investors.
In Renovo, where 32.8% of residents are renters and the median home value stands at $68,566, the median income of $41,173 suggests that many households would find it challenging to afford market rents without assistance. The Section 8 program thus plays a critical role in providing affordable housing options. Landlords benefit from the guaranteed payment structure, mitigating risks associated with non-payment or delinquency typical in the open rental market.
However, accepting Section 8 vouchers also comes with certain costs. Landlords must comply with HUD standards for unit quality and safety, which may require additional maintenance or upgrades. Additionally, the rental agreement is subject to annual review, and the landlord may face challenges in increasing rent beyond the FMR if market conditions permit higher rates.
In summary, the $275 premium or 39.5% yield advantage makes Renovo, PA a compelling location for Section 8 investments. Despite the compliance requirements, the financial stability and predictability offered by voucher tenants can outweigh these costs, especially given the local economic context and the need for affordable housing solutions.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.