Location: Wayne County, PA | Metro: Wayne County, PA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $910 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,600 |
| 4 Bedrooms | $1,820 |
| 5 Bedrooms | $2,111 |
| 6 Bedrooms | $2,364 |
| 7 Bedrooms | $2,553 |
| 8 Bedrooms | $2,681 |
U.S. Census Bureau data (2024)
The ZIP code 18454 presents a modest opportunity for landlords interested in attracting Section 8 tenants. With a population of 97, approximately 21.1% of residents are renters, indicating that while there is a significant number of renters, the overall market is not heavily dominated by rental properties. This suggests that the demand for housing vouchers, such as those issued under Section 8, is present but not overwhelming.
To understand the financial dynamics at play, it's important to consider the median household income in the area, which stands at $61,250. Although specific market rent figures are not provided, we can infer that the typical rent consumes a considerable portion of the local income. For instance, if we assume a conservative estimate of market rent being around 30% of the median income, the average monthly rent would be approximately $1,531. However, this figure is speculative without concrete data on market rents.
The Fair Market Rent (FMR) for the area, as set by HUD for fiscal year 2026, is $1,150. This indicates that the maximum allowable rent for a Section 8 voucher holder in this ZIP code cannot exceed this amount. Given the assumption of a higher market rent, landlords might find that they need to offer rents below the market rate to attract Section 8 tenants, which could affect their profitability.
A landlord operating in ZIP 18454 should expect tenants who are likely to have lower incomes, possibly relying on government assistance to cover their housing costs. These tenants will be sensitive to rent increases and will require thorough background checks and verification of their voucher status before leasing. It is also advisable to ensure compliance with all HUD regulations regarding Section 8 properties to avoid legal issues.
In conclusion, while ZIP 18454 offers some potential for landlords looking to participate in the Section 8 program, the relatively low percentage of renters and the income levels suggest that the competition for these tenants may be fierce. Landlords should be prepared to manage properties with a focus on affordability and government regulations.
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.