Location: Monroe County, PA | Metro: Monroe County, PA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,110 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,870 |
| 4 Bedrooms | $2,290 |
| 5 Bedrooms | $2,656 |
| 6 Bedrooms | $2,975 |
| 7 Bedrooms | $3,213 |
| 8 Bedrooms | $3,374 |
U.S. Census Bureau data (2024)
The ZIP code 18347, located in Pocono Lake, Pennsylvania, stands out within Monroe County due to its unique demographic and economic profile. With a total population of 3,733, it has a relatively low rental rate at 21.9%, indicating that most residents own their homes. The median income of $84,389 is above the national average, suggesting a financially stable community. Additionally, the median home value of $278,362 reflects a higher property valuation compared to many other areas in the region.
When it comes to Section 8 housing, the data reveals an interesting dynamic. The Fair Market Rent (FMR) for ZIP 18347 for fiscal year 2024 is set at $1,410, which is slightly higher than the $1,362 market rent reported by the Census Bureau's American Community Survey (ACS). This indicates that landlords participating in the Section 8 program can expect a slight premium over market rates, making it a potentially attractive option for those looking to lease properties to low-income tenants.
The data signature for ZIP 18347 reads as stable. The high median income and home values suggest a solid economic foundation, while the low rental rate implies that the area is primarily residential rather than transient. For small-portfolio investors and landlords, this stability means that there is a consistent demand for both ownership and rental properties, and the slightly elevated FMR provides a reasonable incentive to accept Section 8 vouchers.
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.