Section 8 Fair Market Rent (FMR) for ZIP 18433 - 2027

Location: Scranton--Wilkes-Barre, PA | Metro: Scranton--Wilkes-Barre, PA MSA

Investment Score for ZIP 18433

N/A

Monthly Rent (2BR)

$1,310

Median Price (2BR)

$N/A

1% Rule

Annual Yield

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$910
1 Bedroom	$1,060
2 Bedrooms	$1,310
3 Bedrooms	$1,720
4 Bedrooms	$1,890
5 Bedrooms	$2,192
6 Bedrooms	$2,455
7 Bedrooms	$2,651
8 Bedrooms	$2,784

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$1,720	$242,234	0.71%	D
4BR	$1,890	$300,612	0.63%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

7,564

Median Household Income

$75,000

Housing Units

3,441

Renter Percentage

18.9%

Occupancy Rate

89.3%

Renter Occupied

581

The ZIP code 18433, located in Pennsylvania, is a suburban area that offers a mix of residential properties, including single-family homes and apartments. This region is characterized by its stable housing market and a moderate level of rental activity, making it an attractive investment opportunity for landlords and small-portfolio investors.

The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 18433 for fiscal year 2024 is set at $1000, providing a benchmark for rental pricing in the area.
The average market rent for a two-bedroom property in the ZIP code, according to the latest Census American Community Survey (ACS), stands at $988, indicating a slight variance from the FMR but still reflecting a strong rental demand.
The median home value in ZIP 18433 is $217,621, which suggests that homeownership is relatively affordable compared to other regions in Pennsylvania.
Renters make up 18.9% of the population, showing a significant portion of residents who prefer or require rental housing over homeownership.
The median income in the area is $75,000, which supports the ability of residents to afford rental properties priced around the FMR and market rent levels.

In summary, ZIP 18433 presents a balanced market for real estate investments, particularly in rental properties. With the Fair Market Rent closely aligned to the actual market rent, landlords can expect stable returns on their investments. The median home value indicates that the area is also suitable for those interested in purchasing homes rather than renting them out. However, the relatively low renter share suggests that there might be limited growth potential in the rental market unless there is an increase in the number of renters or a shift in housing preferences. Nonetheless, the median income level supports the existing rental rates, ensuring that tenants can meet their financial obligations. For small-portfolio investors, focusing on properties that offer good value and align with the FMR could yield steady and predictable returns.

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.