Location: Columbia County, PA | Metro: Scranton--Wilkes-Barre, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,630 |
| 5 Bedrooms | $1,891 |
| 6 Bedrooms | $2,118 |
| 7 Bedrooms | $2,287 |
| 8 Bedrooms | $2,401 |
U.S. Census Bureau data (2024)
The ZIP code 17878 presents a unique scenario for real estate investment, particularly for those interested in Section 8 properties. With a Fair Market Rent (FMR) of $910 for the fiscal year 2024, it stands below the market rent of $1,083. This discrepancy suggests that there is potential for higher yields when leveraging Section 8 contracts, as the government subsidy helps bridge the gap between market and FMR rates.
However, the stability of the market in ZIP 17878 is somewhat questionable. Only 13.4% of residents are renters, which indicates a relatively low demand for rental properties. Additionally, the median household income of $68,125 suggests that many residents might be able to afford homeownership, further reducing the likelihood of a robust rental market. The lack of data on days on market (DOM) makes it challenging to assess how quickly rental units can be filled, but given the low percentage of renters, it's reasonable to assume that finding tenants could be slower compared to areas with higher rental populations.
The home value of $270,787 in ZIP 17878 is another critical figure to consider. This price point is indicative of a middle-class area where homeownership is more common. While this doesn't directly impact rental yields, it does suggest that the area may not be as attractive for large-scale rental investments due to the strong preference for owning homes.
Given these factors, ZIP 17878 is best classified as a steady-cashflow zone. Although the potential yield from Section 8 contracts is favorable, the stability of the rental market is compromised by the low percentage of renters and the strong inclination towards homeownership. Landlords and small-portfolio investors should expect moderate returns and be prepared for potentially longer vacancy periods.
To summarize, the key figures driving this classification are:
These elements combine to create an environment suitable for those looking for stable, if not exceptionally high, cash flows from their rental investments.
Data Sources: FMR data from HUD (2027). 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.