Location: Scranton--Wilkes-Barre, PA | Metro: Scranton--Wilkes-Barre, PA MSA
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 | $880 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,650 |
| 4 Bedrooms | $1,810 |
| 5 Bedrooms | $2,100 |
| 6 Bedrooms | $2,352 |
| 7 Bedrooms | $2,540 |
| 8 Bedrooms | $2,667 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,260 | $191,531 | 0.66% | D |
| 3BR | $1,650 | $277,257 | 0.6% | F |
| 4BR | $1,810 | $369,948 | 0.49% | F |
U.S. Census Bureau data (2024)
A landlord considering purchasing a property in ZIP code 18403 (Archbald, PA) for Section 8 should follow a structured decision-making process based on the following criteria:
Step 1: Financial Feasibility
The Fair Market Rent (FMR) for ZIP 18403 in fiscal year 2024 is set at $1010. To determine if this amount can cover the debt service on a property valued at $242,576, you must calculate the monthly mortgage payment and other fixed costs. If the total debt service is less than $1010, then the answer is yes; otherwise, no.
Step 2: Market Rent Comparison
The average market rent in Archbald, PA, according to the Census American Community Survey (ACS), is $953. This figure is slightly below the FMR of $1010. Therefore, if you decide to rent your property to non-Section 8 tenants, you would be able to charge closer to the FMR rate, which could provide a better financial outcome. However, if the market rent is consistently below the FMR, then relying solely on Section 8 may be more challenging.
Step 3: Rental Demand Assessment
In Archbald, PA, 22.7% of residents are renters. The data does not specify the number of days on the market (DOM) for rental properties, but given that the percentage of renters is relatively high, there appears to be sufficient demand for rentals. However, the lack of DOM data makes it difficult to assess how quickly properties are leased. If the rental demand is strong and properties are typically leased within a reasonable time frame, then the answer is yes. Otherwise, it depends on additional factors such as vacancy rates and local economic conditions.
To summarize, if the FMR of $1010 can cover the debt service on a $242,576 property, and the market rent is close to or above the FMR, and there is a strong rental demand, then buying in ZIP 18403 for Section 8 is financially viable. If any of these conditions are not met, further investigation into local housing trends and economic stability is recommended before making a decision.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.