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 | $1,110 |
| 1 Bedroom | $1,290 |
| 2 Bedrooms | $1,590 |
| 3 Bedrooms | $2,080 |
| 4 Bedrooms | $2,290 |
| 5 Bedrooms | $2,656 |
| 6 Bedrooms | $2,975 |
| 7 Bedrooms | $3,213 |
| 8 Bedrooms | $3,374 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,080 | $240,288 | 0.87% | C |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 18621 in fiscal year 2024 is set at $1130. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program. It's important to note that this is not the actual rent you will receive; it's the benchmark against which your rental property's value is measured.
To understand the implications of this FMR, compare it to the average market rent in the area. Unfortunately, specific local average rent data is not available for ZIP 18621. However, the FMR gives you an idea of the maximum rent subsidy a tenant can receive, ensuring that rents do not exceed reasonable market rates.
The 11.4% renter share indicates that there is a significant portion of the population in ZIP 18621 who rely on rental housing. This suggests a strong demand for affordable rentals, making Section 8 properties particularly attractive to those who need housing assistance. The average home price in the area is $219,950, which provides a basis for understanding the potential acquisition cost if you are looking to buy a property to rent out through the Section 8 program.
Before committing to a Section 8 rental, verify that your property meets all necessary inspection criteria. This includes passing a Housing Quality Standards (HQS) inspection, which ensures that the property is safe, decent, and sanitary for tenants. If the property does not meet these standards, you must make the required repairs before it can be approved for the program.
In summary, the FMR of $1130 sets the payment standard for Section 8 in ZIP 18621, while the 11.4% renter share points to a robust demand for affordable rentals. With an average home price of $219,950, you should ensure that your property complies with HQS requirements to avoid delays and additional costs.
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.