Location: Pike County, PA | Metro: Pike County, PA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,100 |
| 1 Bedroom | $1,240 |
| 2 Bedrooms | $1,550 |
| 3 Bedrooms | $2,040 |
| 4 Bedrooms | $2,280 |
| 5 Bedrooms | $2,645 |
| 6 Bedrooms | $2,962 |
| 7 Bedrooms | $3,199 |
| 8 Bedrooms | $3,359 |
U.S. Census Bureau data (2024)
The ZIP code 18340 presents several challenges for landlords considering Section 8 investments. Tenant turnover is a significant issue, with market rents being undefined, contrasting sharply with the Fixed Monthly Rent (FMR) of $1500 for FY 2024. This uncertainty can lead to fluctuating occupancy rates, making it difficult to predict steady cash flow. Additionally, vacancy exposure is heightened due to the lack of data on the number of days on market (DOM), which indicates potential difficulty in filling vacancies quickly. The absence of information on typical home values and median incomes further complicates the analysis, as it's unclear whether the properties are underutilized or if there is sufficient income to cover maintenance costs, leading to potential deferred-maintenance issues.
Despite these risks, the ZIP code has a high renter share of 39.5%, which typically correlates with higher demand for rental housing. This strong rental market suggests that there will be a consistent pool of tenants, including those who use Section 8 vouchers. The presence of many renters often translates into a robust demand for affordable housing options, which can stabilize the property's occupancy over time. Furthermore, the fixed monthly rent provided by Section 8 can offer a level of financial predictability that is otherwise lacking in the local rental market.
In summary, while there are notable risks associated with investing in Section 8 properties in ZIP 18340, such as uncertain market rents and potential deferred maintenance, the high renter share provides a counterbalance. The verdict is that the area poses a moderate risk for a first-time Section 8 landlord.
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.