Location: Wayne County, 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 | $780 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,710 |
| 5 Bedrooms | $1,984 |
| 6 Bedrooms | $2,222 |
| 7 Bedrooms | $2,400 |
| 8 Bedrooms | $2,520 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,470 | $236,212 | 0.62% | D |
| 4BR | $1,710 | $275,110 | 0.62% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 18421 in fiscal year 2024 is set at $910. This figure represents the payment standard for Section 8 housing vouchers in your area, which is the maximum amount that the government will pay towards a tenant's rent. It does not mean you can charge $910 to tenants; rather, it is the benchmark used to determine what voucher holders can afford.
To put this into perspective, the average rent in ZIP 18421, according to recent Census American Community Survey data, is $866. This indicates that the FMR is slightly higher than the typical market rate, providing a modest cushion for landlords who participate in the program.
The demand for rental properties in this ZIP code is substantial, with 21.0% of residents being renters. This suggests a healthy pool of potential tenants who might be interested in Section 8 housing, making it a viable option for new landlords looking to enter the market.
If you're considering purchasing a property in ZIP 18421 to become a Section 8 landlord, the median home value is around $204,857. This figure represents the acquisition cost for a typical property in the area. Given the FMR and the average rent, you should be able to cover your mortgage and maintenance costs while still participating in the program.
Before you decide to take the plunge, verify that the property meets all the necessary criteria for Section 8 eligibility. This includes ensuring that the rent you charge is reasonable compared to other similar properties in the area, and that the unit is up to code and passes inspection. Once these conditions are met, the FMR of $910 provides a clear guideline for the amount you can expect to receive from the government toward each tenant's rent.
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.