Location: Scranton--Wilkes-Barre, PA | Metro: Scranton--Wilkes-Barre, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $950 |
| 1 Bedroom | $1,110 |
| 2 Bedrooms | $1,370 |
| 3 Bedrooms | $1,790 |
| 4 Bedrooms | $1,970 |
| 5 Bedrooms | $2,285 |
| 6 Bedrooms | $2,559 |
| 7 Bedrooms | $2,764 |
| 8 Bedrooms | $2,902 |
The economics of Section 8 housing in ZIP code 18515, located in the Scranton--Wilkes-Barre County area of Pennsylvania, are straightforward. For a two-bedroom apartment, the SAFMR (Small Area Fair Market Rent) for fiscal year 2024 is set at $1040. This figure is specific to this ZIP code, meaning it reflects the rental rates determined for this precise geographic location.
A voucher holder under Section 8 will pay 30% of their adjusted income towards rent. The remaining amount is covered by the Housing Choice Voucher program, up to the SAFMR limit. However, the total reimbursement to the landlord includes not only the rent but also utility allowances. In ZIP 18515, the utility allowance varies based on the season and can add an additional $200 to $300 per month to the reimbursement.
To illustrate, if a tenant's share of the rent for a two-bedroom apartment is $300, the voucher would cover the difference between the tenant's payment and the SAFMR. Therefore, the landlord would receive the tenant's $300 plus the voucher's contribution of $740 (the balance to reach $1040), making the total reimbursement $1040. If we factor in the average utility allowance of $250, the landlord could expect a monthly reimbursement of $1290.
However, the local market rent is currently unknown for ZIP 18515, which makes it challenging to determine whether landlords will experience a surplus or a gap in their expected income. Given the SAFMR of $1040, landlords should ensure that their two-bedroom units are priced competitively to attract tenants using vouchers.
In summary, the typical reimbursement for a two-bedroom unit in ZIP 18515 would be $1040 for rent plus an estimated utility allowance of $250, totaling $1290. The surplus or gap relative to the local market rent cannot be definitively stated without knowing the market rate, but landlords should use the SAFMR as a benchmark for pricing their units.
Data Sources: FMR data from HUD (2027).
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.