Location: Susquehanna County, PA | Metro: Scranton--Wilkes-Barre, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,620 |
| 5 Bedrooms | $1,879 |
| 6 Bedrooms | $2,104 |
| 7 Bedrooms | $2,272 |
| 8 Bedrooms | $2,386 |
U.S. Census Bureau data (2024)
The market in ZIP code 18446 presents a dynamic scenario that is indicative of the balance between supply and demand. With a Fair Market Rent (FMR) set at $1000 for the fiscal year 2024, it suggests a higher benchmark for rental pricing established by HUD, compared to the actual market rent which stands at $846 according to the Census ACS. This disparity points towards a market where the supply might be slightly ahead of demand, allowing rents to remain lower than the suggested FMR.
The median home value of $230,805 reflects a residential area that is moderately priced, making homeownership accessible to a broad range of potential buyers. However, the lack of data on price-cut share and days on market (DOM) means we cannot definitively conclude the trend of home sales or the urgency of sellers to close deals.
A key indicator of long-term housing pressure is the 17.0% renter share. This percentage indicates that a relatively smaller portion of the population in 18446 opts for renting over owning. In markets where the renter share is low, there's typically less immediate pressure on rental properties, but it also implies that a significant number of residents are homeowners, which can lead to steady demand for both rental and purchase properties as the housing needs evolve over time.
The snapshot of the market in 18446 reveals a stable environment with moderate pricing, suggesting that landlords and small-portfolio investors can expect consistent returns without the volatility seen in some other areas. The gap between FMR and market rent signals a competitive rental market, likely due to an adequate supply of units. However, the low renter share hints at a strong foundation of homeownership, which can provide a buffer against sudden shifts in rental demand.
In summary, ZIP 18446 is a market characterized by stability and moderation. Landlords and investors should focus on maintaining quality properties to attract tenants, while the moderate median home value ensures that the market remains attractive for potential homeowners. The dynamics suggest a balanced ecosystem where neither supply nor demand overwhelmingly dominates the other.
Data Sources: FMR data from HUD (2027). 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.