Location: Wayne County, PA | Metro: Monroe 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 | $1,710 |
| 1 Bedroom | $1,720 |
| 2 Bedrooms | $2,110 |
| 3 Bedrooms | $2,880 |
| 4 Bedrooms | $3,530 |
| 5 Bedrooms | $4,095 |
| 6 Bedrooms | $4,586 |
| 7 Bedrooms | $4,953 |
| 8 Bedrooms | $5,201 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,110 | $192,332 | 1.1% | B |
| 3BR | $2,880 | $242,056 | 1.19% | B |
| 4BR | $3,530 | $315,740 | 1.12% | B |
| 5BR | $4,095 | $324,129 | 1.26% | A |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 18466, Tobyhanna, Pennsylvania, is set at $1780 for fiscal year 2024. This figure represents the payment standard for Section 8 housing assistance in the area. It is important to note that this is not the amount tenants will pay; rather, it is the maximum amount the Housing Authority will pay on behalf of eligible tenants.
Comparatively, the average rental price in Tobyhanna based on Census American Community Survey (ACS) data is $2,014. This means that the FMR is slightly below the market rate, which could affect your potential income. However, the demand for rental properties in Tobyhanna is relatively high, with 21.0% of the population being renters. This indicates that there is a significant number of people who might be interested in renting through the Section 8 program.
When acquiring a property for a Section 8 rental, you should consider the typical purchase price in the area, which stands at $256,167. This can help you evaluate whether the investment aligns with your financial goals and the expected returns from the rental income.
To ensure the property meets the requirements for Section 8 participation, you must verify that it passes the Housing Quality Standards (HQS) inspection. This is a mandatory step that checks the condition of the property to make sure it is safe and livable for tenants. Once the property passes this inspection, you can confidently move forward with your plans to offer it as a Section 8 rental unit.
In summary, while the FMR of $1780 is lower than the local average of $2,014, the strong demand from renters and the reasonable acquisition cost of around $256,167 make Tobyhanna a viable location for your first Section 8 rental. The key to success is ensuring the property complies with HQS standards, which is essential for both tenant safety and program eligibility.
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.