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 | $860 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,480 |
| 4 Bedrooms | $1,940 |
| 5 Bedrooms | $2,250 |
| 6 Bedrooms | $2,520 |
| 7 Bedrooms | $2,722 |
| 8 Bedrooms | $2,858 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,160 | $221,094 | 0.52% | F |
| 3BR | $1,480 | $297,416 | 0.5% | F |
| 4BR | $1,940 | $369,961 | 0.52% | F |
| 5BR | $2,250 | $424,908 | 0.53% | F |
U.S. Census Bureau data (2024)
The investment landscape for Section 8 landlords in ZIP code 18431, located in Honesdale, Pennsylvania, presents several challenges that must be carefully considered. Firstly, tenant turnover poses a significant risk. The market rent stands at $1,024, which is notably lower than the Fair Market Rent (FMR) of $1,120 for the metro area as projected for FY 2026. This gap suggests that tenants might be drawn towards higher-paying opportunities outside of the Section 8 program, leading to increased turnover rates.
Vacancy exposure is another concern. With the days on market (DOM) being listed as N/A, it indicates a lack of historical data or recent trends to predict how long properties might remain vacant. This uncertainty can be detrimental to cash flow, especially when relying on consistent rental income.
The deferred-maintenance exposure is also substantial. Given the typical home value of $292,268 and a median income of $56,779, landlords may find themselves frequently addressing maintenance issues that tenants cannot afford due to their limited financial resources. This situation requires a proactive approach to property management to avoid costly repairs and ensure the property remains in good condition.
Despite these risks, the high renter share of 28.4% in the area is a positive indicator. High renter density typically correlates with a greater demand for housing vouchers, which can provide a steady stream of tenants through the Section 8 program. This demand helps mitigate some of the risks associated with vacancy and turnover, as there is likely to be a pool of qualified applicants.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.