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: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,480 | $308,318 | 0.48% | F |
U.S. Census Bureau data (2024)
12.0% of residents in ZIP 18456 are renters, indicating a modest demand for rental properties in the area. The $1,080 Fair Market Rent (FMR) for the metro area in fiscal year 2026 reflects the government's assessment of reasonable rental rates, which can be a benchmark for setting rents. Comparatively, the $1,111 market rent derived from Census ACS data shows that actual rents slightly exceed the FMR, suggesting landlords might have some flexibility in pricing. However, with a median home value of $276,790, it's clear that the majority of the population opts for homeownership, potentially limiting the overall rental market growth. Landlords should also consider the local median income of $69,750 when setting rents to ensure affordability for tenants. While the data does not provide specific insights on days on market (DOM) or the percentage of price-cut shares, these factors are crucial for understanding the dynamics of the rental market and can influence vacancy rates and tenant turnover. Given the relatively high median home value and the slight premium over FMR in market rents, landlords in ZIP 18456 can expect to maintain competitive rents without significant price adjustments. The Section 8 program, with its set FMR, offers a stable income source but at a rate below current market conditions. Therefore, landlords must weigh the benefits of guaranteed payments against the lower rent compared to the open market. For small-portfolio investors, participating in Section 8 can provide a steady stream of income, especially if they aim to fill units quickly and avoid prolonged vacancies.
Based on the available data, the verdict for Section 8 participation in ZIP 18456 is positive for those seeking stable, long-term tenancy, despite the lower rent compared to market rates.
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.