Location: Scranton--Wilkes-Barre, PA | Metro: Scranton--Wilkes-Barre, PA MSA
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 | $1,080 |
| 1 Bedroom | $1,260 |
| 2 Bedrooms | $1,550 |
| 3 Bedrooms | $2,030 |
| 4 Bedrooms | $2,230 |
| 5 Bedrooms | $2,587 |
| 6 Bedrooms | $2,897 |
| 7 Bedrooms | $3,129 |
| 8 Bedrooms | $3,285 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,550 | $237,619 | 0.65% | D |
| 3BR | $2,030 | $300,212 | 0.68% | D |
| 4BR | $2,230 | $423,496 | 0.53% | F |
U.S. Census Bureau data (2024)
The ZIP code 18612 in Dallas, PA stands out within Luzerne County due to its relatively high median income of $93,750, which is notably above the national average. This ZIP has a population of 17,739 residents, with 16.3% choosing to rent their homes, indicating a preference for homeownership among the majority of its inhabitants. The median home value in 18612 is set at $293,856, reflecting a strong local housing market.
For landlords and small-portfolio investors, the economics of Section 8 vouchers in 18612 are particularly interesting. The Fair Market Rent (FMR) for the area, as of the fiscal year 2024, is $1,180. In contrast, the Census ACS data suggests that the market rent for the area is approximately $1,128. This means that landlords who accept Section 8 vouchers can expect to receive slightly higher rents compared to the typical market rate, potentially offsetting some of the administrative challenges associated with the program.
The data signature for ZIP 18612 reads as stable. With a significant portion of the population owning homes and a median income that supports this trend, there's a strong indication that the local economy is robust enough to sustain current housing conditions. However, the slight increase in FMR over market rent could signal a transitional period where government support through vouchers is becoming more aligned with actual market values, thus making it an opportune time for landlords to consider accepting Section 8 tenants.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.