Location: Scranton--Wilkes-Barre, PA | Metro: Scranton--Wilkes-Barre, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $950 |
| 1 Bedroom | $1,110 |
| 2 Bedrooms | $1,370 |
| 3 Bedrooms | $1,790 |
| 4 Bedrooms | $1,970 |
| 5 Bedrooms | $2,285 |
| 6 Bedrooms | $2,559 |
| 7 Bedrooms | $2,764 |
| 8 Bedrooms | $2,902 |
The ZIP code 18410 in Scranton--Wilkes-Barre County, PA, presents a unique challenge due to the lack of comprehensive demographic data. Specifically, the number of residents, the percentage of renters, the median income, and the median home value are not available, making it difficult to paint a full picture of the area's economic status.
Despite these data gaps, the Section 8 voucher program provides some insight into the rental market dynamics. The Fair Market Rent (FMR) for ZIP 18410 for fiscal year 2024 is set at $1040. This figure serves as a benchmark for affordable housing in the region but lacks context without comparative market rent data. However, it's crucial for landlords and small-portfolio investors to understand that the FMR is designed to reflect the 40th percentile of market rents, ensuring that it is below the average rental price in the area.
The absence of specific market rent figures means that the attractiveness of the voucher program cannot be fully assessed against local market conditions. Yet, the FMR provides a reliable minimum for landlords who accept Section 8 vouchers, guaranteeing a certain level of income stability.
Given the incomplete data signature, the ZIP 18410 environment can be characterized as "transitional." This classification is based on the lack of detailed economic indicators, which suggests an evolving landscape where further research and updates would be necessary to fully gauge the rental market's direction and stability.
Data Sources: FMR data from HUD (2027).
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.