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 | $1,980 |
| 5 Bedrooms | $2,297 |
| 6 Bedrooms | $2,573 |
| 7 Bedrooms | $2,779 |
| 8 Bedrooms | $2,918 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,480 | $190,854 | 0.78% | D |
| 3BR | $1,880 | $218,095 | 0.86% | C |
| 4BR | $1,980 | $242,082 | 0.82% | C |
U.S. Census Bureau data (2024)
A skeptical investor looking at ZIP code 18255, Weatherly, PA, might have several concerns regarding the feasibility of investing in a Section 8 property. Here, we address those key questions using the available data.
Will FMR $1260 (zip FY 2024) cover the mortgage on a $211,397 home?
The Fair Market Rent (FMR) for ZIP 18255 in fiscal year 2024 is set at $1260 per month. This figure represents the average rent that a tenant could expect to pay for a standard unit in the area. To determine if this amount can cover a mortgage on a home valued at $211,397, one must consider the prevailing interest rates and the terms of the mortgage. Assuming a typical 30-year fixed-rate mortgage with an interest rate of around 5%, the monthly payment for a $211,397 home would be approximately $1125. Therefore, the FMR of $1260 would indeed cover the mortgage payment, leaving a buffer of $135 per month. However, it's important to note that other costs such as property taxes, insurance, maintenance, and utilities must also be accounted for to ensure profitability.
Is there enough renter demand at 21.8%?
The percentage of renter-occupied housing units in ZIP 18255 stands at 21.8%. This indicates that slightly more than one-fifth of the housing stock is rented out. While this might seem low compared to urban areas, it still represents a significant number of potential tenants. The demand for rental properties in Weatherly, PA, should be considered alongside the supply. If the supply of rental units is limited, the 21.8% demand could be sufficient to fill vacancies quickly. However, the data does not provide a complete picture of the local rental market dynamics, including vacancy rates and competition from other types of housing.
Will vouchers keep pace with $925 market rents?
The market rent for a standard two-bedroom apartment in ZIP 18255 is currently $925. Comparing this to the FMR of $1260, it's evident that the market rent is below the FMR. This suggests that landlords who accept Section 8 vouchers could potentially receive higher rent payments than the market rate, which would be beneficial. However, the future trajectory of voucher amounts versus market rents is uncertain without additional data. It's crucial to monitor local trends and government adjustments to ensure that voucher payments continue to align with or exceed market 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.