Location: Wayne County, PA | Metro: Wayne County, PA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,790 |
| 5 Bedrooms | $2,076 |
| 6 Bedrooms | $2,325 |
| 7 Bedrooms | $2,511 |
| 8 Bedrooms | $2,637 |
U.S. Census Bureau data (2024)
The potential risks for investing in Section 8 properties in ZIP code 18461 are significant. Firstly, tenant turnover poses a substantial challenge. At a market rent of $907, which is below the Federal Market Rent (FMR) of $1,140 for the metro area, landlords might struggle to attract tenants who qualify for Section 8 vouchers. This can lead to higher vacancy rates and prolonged periods without rental income. Secondly, the vacancy exposure is considerable due to the lack of data on the number of days on market (DOM), indicating an uncertain housing market that could result in extended vacancies. Thirdly, there is a notable risk of deferred maintenance. With a typical home value of $235,454 and a median income of $42,321, many residents might not have the financial capacity to cover the costs of necessary repairs and maintenance, leaving these responsibilities to the landlord.
However, these risks are tempered by the high concentration of renters in the area, with 20.6% of the population being renters. High renter density generally translates into higher demand for rental properties, including those participating in the Section 8 program. This demand can help stabilize occupancy rates and mitigate some of the risks associated with tenant turnover and vacancy exposure.
In conclusion, the investment risk for a first-time Section 8 landlord in ZIP code 18461 is moderate.
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.