Location: Wayne County, PA | Metro: Susquehanna 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 | $830 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,710 |
| 5 Bedrooms | $1,984 |
| 6 Bedrooms | $2,222 |
| 7 Bedrooms | $2,400 |
| 8 Bedrooms | $2,520 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,460 | $297,401 | 0.49% | F |
U.S. Census Bureau data (2024)
The ZIP code 18462 has a population of 543, with only 5.0% of residents being renters. This indicates that it is primarily a homeowner-dominated area rather than a renter-heavy zone. The scarcity of renters suggests that the demand for Section 8 vouchers may be limited, making it less favorable for landlords specifically targeting tenants with such vouchers.
The median household income in this ZIP code is $69,667. The market rent stands at $1,438 per month, which consumes approximately 21% of the median household income. This percentage is calculated by dividing the market rent by the annual median income and multiplying by 12 months. Specifically, ($1,438 / $69,667) * 12 = 21%. This is higher than the Federal Market Rent (FMR) of $1,100, which is set for fiscal year 2026 in the metro area.
The disparity between the market rent and the FMR highlights a significant challenge for potential Section 8 tenants. With the FMR at $1,100, landlords who wish to attract these tenants must ensure their rents align closely with this figure to remain competitive and comply with housing assistance guidelines.
A landlord in ZIP 18462 should expect a tenant profile that includes individuals or families who might struggle to find affordable rental properties due to the high market rent compared to the FMR. These tenants will likely have a household income below the median, necessitating the use of housing vouchers to afford living in this area. However, the low percentage of renters means that the overall number of potential Section 8 tenants is limited.
To conclude, while there is a presence of Section 8 tenants in ZIP 18462, it is not a densely populated rental market. Landlords must balance their rental pricing with the need to attract tenants who can benefit from the lower FMR threshold, given the higher market rent. This approach will help them cater to the specific needs of the voucher-dependent population in this area.
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.