Section 8 Fair Market Rent (FMR) for ZIP 18451 - 2027
Location: Pike County, PA | Metro: Pike County, PA
Investment Score for ZIP 18451
N/A
Monthly Rent (2BR)
$1,460
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 | $1,080 |
| 1 Bedroom | $1,220 |
| 2 Bedrooms | $1,460 |
| 3 Bedrooms | $2,030 |
| 4 Bedrooms | $2,440 |
| 5 Bedrooms | $2,830 |
| 6 Bedrooms | $3,170 |
| 7 Bedrooms | $3,424 |
| 8 Bedrooms | $3,595 |
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 |
$2,030 |
$406,530 |
0.5% |
F |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$155,238
To determine if you should buy in ZIP code 18451 for Section 8 investments, follow this decision tree:
- 1) Does the Fair Market Rent (FMR) of $1630 cover the debt service on a property valued at $410,875?
- Yes: The FMR of $1630 must be compared against the expected monthly mortgage payment and other expenses. Assuming a typical mortgage rate and terms, the monthly payment on a $410,875 property would likely exceed $1630, making it challenging to cover costs solely with FMR.
- No: Given that the FMR is $1630, it is unlikely to fully cover the debt service on a property of this value. Landlords should seek additional sources of income or consider properties with lower purchase prices to ensure financial viability.
- 2) Is the market rent above, at, or below the FMR of $1630?
- Above: If the market rent exceeds $1630, there is potential to command higher rents from non-Section 8 tenants, which could offset the lower FMR.
- At: If market rents are exactly at $1630, landlords can expect to receive the FMR amount from Section 8 tenants without the benefit of higher market rents.
- Below: If market rents are below $1630, landlords will struggle to find tenants willing to pay the FMR, reducing the attractiveness of this area for Section 8 investments.
- 3) Are 1.7% of renters and N/A-day Days on Market (DOM) sufficient to meet demand?
- It depends: With only 1.7% of renters in the area, the demand for rental properties is low. Additionally, the absence of data regarding the average DOM suggests either insufficient data or a market condition that could indicate difficulty in finding and retaining tenants. Landlords must weigh these factors against their investment goals and risk tolerance.
In conclusion, the decision to invest in ZIP 18451 for Section 8 properties hinges on the ability of the FMR to cover debt service, the relationship between market rent and FMR, and the level of rental demand in the area. Given the provided data, the primary concern is whether the FMR can support the cost of ownership, followed closely by the lack of robust rental demand.
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.