Location: Wayne County, PA | Metro: Pike 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 | $1,040 |
| 1 Bedroom | $1,160 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,870 |
| 4 Bedrooms | $2,310 |
| 5 Bedrooms | $2,680 |
| 6 Bedrooms | $3,002 |
| 7 Bedrooms | $3,242 |
| 8 Bedrooms | $3,404 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,380 | $234,530 | 0.59% | F |
| 3BR | $1,870 | $329,897 | 0.57% | F |
| 4BR | $2,310 | $410,178 | 0.56% | F |
| 5BR | $2,680 | $536,874 | 0.5% | F |
U.S. Census Bureau data (2024)
The dynamics of the ZIP code 18428, which encompasses Hawley, PA, reveal a market in motion. With a Fair Market Rent (FMR) of $1,580 for the fiscal year 2024, the rental market appears to be robust, suggesting that demand is strong relative to supply. This is further supported by the Census American Community Survey (ACS) data indicating a market rent of $1,232. The relatively low price-cut share of 0.1% and a Days on Market (DOM) figure of 50 days suggest that properties are selling without significant discounts and within a reasonable timeframe, implying that demand is keeping pace with supply.
The median home value stands at $317,265, reflecting a stable housing market. However, the snapshot also shows a 14.7% renter share, which is notably lower than the national average. This suggests that there is less long-term housing pressure in Hawley compared to many other areas, as a smaller proportion of residents are renters. A lower renter share typically indicates a preference for homeownership, which can contribute to a steady demand for both rentals and sales, as well as a stable property value growth over time.
In summary, the market in ZIP 18428 presents a scenario where demand is likely matching supply, rather than being overtaken by it. The rental market is strong, and the low price-cut share and DOM indicate that the sales market is healthy. While the renter share is lower than the national average, it still points to a balanced market with potential for gradual growth in both rental and home values.
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.