Location: Scranton--Wilkes-Barre, PA | Metro: Allentown-Bethlehem-Easton, PA HUD Metro FMR Area
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 | $1,020 |
| 1 Bedroom | $1,210 |
| 2 Bedrooms | $1,480 |
| 3 Bedrooms | $1,880 |
| 4 Bedrooms | $2,010 |
| 5 Bedrooms | $2,332 |
| 6 Bedrooms | $2,612 |
| 7 Bedrooms | $2,821 |
| 8 Bedrooms | $2,962 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,880 | $181,898 | 1.03% | B |
U.S. Census Bureau data (2024)
The ZIP code 18224 is characterized by a significant rental population, with 32.6% of residents being renters. This indicates a substantial demand for rental properties, suggesting that landlords can attract a steady stream of tenants seeking housing. The median household income in this area is $69,620, which provides a benchmark for assessing the affordability of rents.
The market rent in ZIP 18224 is $986 per month, representing approximately 17.3% of the median household income when annualized. This figure is derived from dividing the monthly rent by the annual income ($986 * 12 / $69,620), indicating that rent consumes a notable but manageable portion of local incomes.
Comparing the market rent to the Fair Market Rent (FMR) of $1,260, which is set for FY 2024, it's evident that the actual market rent is below the FMR. This means that landlords who participate in the Section 8 program can potentially receive higher rents through vouchers, up to the FMR level, thus providing a financial incentive to accept Section 8 tenants.
A landlord in ZIP 18224 should expect a tenant pool that includes individuals and families relying on Section 8 vouchers to supplement their rental payments. These tenants will likely be part of the broader rental market, which constitutes over a third of the population. Given the income levels and the current market rent, tenants will generally be able to afford the rent without excessive strain, making this an attractive location for those seeking stable tenancy.
Landlords should prepare to accommodate tenants who may have lower individual incomes but are supported by government assistance. This ensures that the property remains affordable and accessible to a wide range of potential residents, aligning with the goals of the Section 8 program. Overall, ZIP 18224 presents a viable opportunity for landlords interested in participating in the Section 8 program due to its high percentage of renters and the financial benefits of receiving FMR-level rents.
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.