Location: Wayne County, PA | Metro: Wayne County, PA
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 | $840 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,780 |
| 5 Bedrooms | $2,065 |
| 6 Bedrooms | $2,313 |
| 7 Bedrooms | $2,498 |
| 8 Bedrooms | $2,623 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,120 | $278,667 | 0.4% | F |
| 3BR | $1,470 | $356,831 | 0.41% | F |
| 4BR | $1,780 | $423,533 | 0.42% | F |
U.S. Census Bureau data (2024)
A decision tree for whether to invest in ZIP code 18415 (Damascus, PA) for Section 8 properties begins with calculating if the Fair Market Rent (FMR) of $1,120 can cover the debt service on a property valued at $345,254. To determine this, first calculate the annual debt service. Assuming a 30-year mortgage at an interest rate of 5%, the monthly payment would be approximately $1,840, making the annual debt service around $22,080. The FMR of $1,120 per month translates to an annual rental income of $13,440. This means that the FMR does not clear the debt service, leading to an immediate No for investment suitability.
If you disregard the initial financial feasibility check and proceed to the second question, you will find that the market rent is not available (N/A), which makes it impossible to compare against the FMR. Without this comparison, you cannot accurately assess if the market rent is above, at, or below the FMR. Therefore, the answer remains unclear, but given the previous point, it is still a No.
The third question concerns the demand for Section 8 properties in Damascus, PA. With only 3.5% of renters participating in the Section 8 program and the Days on Market (DOM) being unavailable (N/A), there is insufficient data to determine if the demand is sufficient. However, even if the DOM were favorable, the primary concern is the financial viability, which has already been established as unfeasible due to the FMR not covering the debt service.
In summary, based on the provided data, the answer to "Should I buy here for Section 8?" is No. The FMR of $1,120 is insufficient to cover the debt service on a $345,254 property, and the lack of market rent data further complicates the assessment. Even though the percentage of Section 8 participants is low, the most critical factor is the inability to generate enough rental income to meet financial obligations.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.