Location: Columbia County, PA | Metro: Columbia County, PA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 18631 in fiscal year 2024 is set at $1340. This figure represents the payment standard for Section 8 housing vouchers, meaning that voucher holders will be able to use their vouchers to cover up to $1340 per month towards rent. It's important to note that this is not necessarily the amount you'll receive as rent; it's the maximum amount the voucher can cover.
In comparison, the average rent in ZIP 18631 based on Census American Community Survey (ACS) data is $959. This suggests that the FMR is higher than the typical market rate, which could make Section 8 rentals more attractive to potential tenants. The difference between the FMR and the local average rent indicates that voucher holders have the ability to pay more, potentially covering the costs associated with maintaining a property to meet Section 8 standards.
The renter share in this area is 21.7%, which means that a significant portion of the population is already renting. This provides insight into the potential demand for rental properties, especially those that accept Section 8 vouchers. Given the higher FMR compared to the local average rent, there is likely a strong interest among renters to secure a Section 8 property, ensuring a steady stream of tenants.
Regarding acquisition costs, the data provided shows this as N/A, indicating that there might not be recent or specific information available on property purchase prices in ZIP 18631. However, this does not necessarily mean that acquiring a property for Section 8 is out of reach. It simply requires further investigation into local real estate listings and market trends.
Before proceeding with your first Section 8 rental in ZIP 18631, it is crucial to verify that your property meets the Housing Quality Standards (HQS). These standards ensure that the home is safe, decent, and sanitary for tenants. While the specifics can vary, they generally include requirements related to heating, plumbing, electrical systems, and structural integrity. Ensuring compliance with HQS will help avoid delays in securing a tenant and ensure a smoother process overall.
In summary, the FMR of $1340 offers a payment standard that is above the local average rent of $959, making Section 8 rentals competitive and potentially profitable. With a 21.7% renter share, there is a robust demand for rental properties. However, before finalizing your decision, confirm that your property complies with the necessary Housing Quality Standards to avoid complications once you start accepting applications.
Data Sources: FMR data from HUD (2027). 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.