Location: Monroe County, PA | Metro: Monroe County, PA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $980 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,780 |
| 4 Bedrooms | $2,020 |
| 5 Bedrooms | $2,343 |
| 6 Bedrooms | $2,624 |
| 7 Bedrooms | $2,834 |
| 8 Bedrooms | $2,976 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 18342 in fiscal year 2024 is set at $1,180. This figure represents the payment standard for Section 8 vouchers, meaning that if you decide to participate in the program, this is the maximum amount you can charge for rent. It's important to note that this does not reflect the actual rent paid by individual tenants but rather the cap set by the government.
To put this into perspective, the average rent in ZIP 18342, according to the Census American Community Survey (ACS), is $1,138. This indicates that the FMR is slightly above the local average, which can be beneficial for landlords looking to cover their costs and maintain profitability. The difference between the FMR and the local average rent suggests a margin where landlords can still make a reasonable profit while providing affordable housing options to tenants.
In ZIP 18342, 58.7% of residents are renters. This high percentage points to a strong demand for rental properties, particularly those that offer affordability through Section 8. The high renter share also implies that there is a significant population relying on assistance to find suitable housing, making it likely that your property will be in high demand among eligible tenants.
Regarding the acquisition cost of rental properties in this area, the data is currently N/A, which could mean that recent sales data isn't available or isn't sufficiently detailed to provide an accurate figure. However, you should consider the overall market conditions, including property values and the typical costs of purchasing and maintaining rental units in the region.
Before deciding to enter the Section 8 market, verify that your property meets all the required standards for habitability and safety. This includes ensuring that your home is up to code and passes any necessary inspections. Once these criteria are met, participating in Section 8 can be a stable investment opportunity given the strong tenant demand and the structured support provided by the government.
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.