Section 8 Fair Market Rent (FMR) for ZIP 17815 - 2027

Location: Montour County, PA | Metro: Scranton--Wilkes-Barre, PA MSA

Investment Score for ZIP 17815

N/A

Monthly Rent (2BR)

$1,240

Median Price (2BR)

$N/A

1% Rule

Annual Yield

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$860
1 Bedroom	$990
2 Bedrooms	$1,240
3 Bedrooms	$1,690
4 Bedrooms	$1,860
5 Bedrooms	$2,158
6 Bedrooms	$2,417
7 Bedrooms	$2,610
8 Bedrooms	$2,741

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$1,690	$260,211	0.65%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

29,790

Median Household Income

$67,510

Housing Units

12,743

Renter Percentage

38.0%

Occupancy Rate

89.4%

Renter Occupied

4,325

In ZIP code 17815, the economics of Section 8 housing involve a detailed understanding of the federal and local rental markets. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this specific ZIP code is set at $1070 per month for fiscal year 2024. This figure represents the maximum amount that the Housing Choice Voucher program will pay for a unit of this size.

However, the local market rent, as measured by ZORI (Zillow Observed Rent Index), stands at $1,039. This indicates that on average, landlords can charge slightly less than the SAFMR for a two-bedroom unit in this area without being over the market rate.

A landlord participating in the Section 8 program receives reimbursement based on the difference between the tenant's portion of the rent and the total rent charged. Here’s a breakdown:

The tenant is responsible for paying 30% of their adjusted income towards rent. If we assume an average adjusted income of $2,000 per month, the tenant would pay $600 towards rent.
The voucher program covers the remaining 70% of the rent up to the SAFMR. In this case, it would cover up to $470 ($1070 - $600).
Utility allowances are also factored into the reimbursement but vary based on the number of bedrooms and the season. For a two-bedroom unit, the allowance typically ranges from $200 to $300 per month, which is paid directly to the landlord.

Therefore, if a landlord charges $1070 for a two-bedroom apartment, they would receive $600 from the tenant plus an additional $470 from the voucher program, totaling $1070. If the local market rent is lower at $1,039, the landlord would still receive $1,039, with the tenant contributing $600 and the voucher program covering $439 ($1,039 - $600).

The typical reimbursement gap or surplus in ZIP 17815 for a two-bedroom voucher is minimal since the SAFMR closely aligns with the local market rent. Given the SAFMR of $1070 and the local market rent of $1,039, there is a slight surplus when charging the ZORI, meaning landlords can collect the full local market rent while staying within the voucher limits. However, if landlords choose to charge the full SAFMR, they must ensure that the unit meets all eligibility requirements and quality standards set by the housing authority.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.