Section 8 Fair Market Rent (FMR) for ZIP 18249 - 2027

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

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,190
1 Bedroom	$1,390
2 Bedrooms	$1,710
3 Bedrooms	$2,240
4 Bedrooms	$2,460
5 Bedrooms	$2,854
6 Bedrooms	$3,196
7 Bedrooms	$3,452
8 Bedrooms	$3,625

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

4,191

Median Household Income

$97,593

Housing Units

1,818

Renter Percentage

14.2%

Occupancy Rate

92.1%

Renter Occupied

238

Housing Authorities Serving ZIP 18249

Housing Authority of the County of Luzerne (Kingston, PA) - 1,123 Section 8 vouchers
Wilkes Barre Housing Authority (Wilkes Barre, PA) - 957 Section 8 vouchers
The Housing Authority of the City of Hazleton (Hazleton, PA) - 347 Section 8 vouchers
Housing Authority of the City of Pittston (Pittston, PA) - 147 Section 8 vouchers
The Housing Auth of the City of Nanticoke (Nanticoke, PA) - 55 Section 8 vouchers

The ZIP code 18249, located in Pennsylvania, offers a balanced real estate market with opportunities for both landlords and small-portfolio investors. The area has seen steady growth in recent years, with a mix of rental properties and owner-occupied homes.

Fair Market Rent (FMR): For ZIP 18249, the Fair Market Rent set for fiscal year 2024 is $1090. This figure represents the maximum amount that a low-income household can pay for housing under federal programs.
Market Rent: According to Census ACS data, the average market rent in ZIP 18249 is $1,414. This indicates that the actual rental prices in the area exceed the government-set FMR, offering higher potential returns for landlords.
Median Home Value: The median home value in ZIP 18249 is $304,886, reflecting a moderate price range that is accessible to a wide range of buyers and investors.
Renter Share: Renter share of the population stands at 14.2%, suggesting a smaller but stable demand for rental properties. This percentage is crucial for understanding the local rental market's size and dynamics.
Days on Market (DOM): Data for days on market is currently unavailable, which means we cannot provide insights into how quickly properties are selling or renting. However, other indicators still offer valuable guidance for investment decisions.
Median Income: With a median income of $97,593, residents of ZIP 18249 have the financial capability to afford higher rents, making it a lucrative area for those looking to invest in rental properties.

The combination of a higher-than-FMR market rent and a median income that supports paying these rents makes ZIP 18249 attractive for landlords. Despite the relatively low renter share, the median home value suggests that the area is affordable enough to maintain a steady demand for rental units. Investors should be cautious about the lack of data regarding days on market, as this could affect their ability to quickly turn over properties. Overall, the ZIP code presents a solid opportunity for generating rental income with moderate competition from homeownership.

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.