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 | $880 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,650 |
| 4 Bedrooms | $1,810 |
| 5 Bedrooms | $2,100 |
| 6 Bedrooms | $2,352 |
| 7 Bedrooms | $2,540 |
| 8 Bedrooms | $2,667 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,650 | $220,008 | 0.75% | D |
| 4BR | $1,810 | $253,266 | 0.71% | D |
U.S. Census Bureau data (2024)
The ZIP code 18641 stands out due to its unique demographic and economic characteristics. With a population of 6,305 residents, it has a rental rate of 29.1%, which is slightly above the national average. The median income in this area is $75,708, reflecting a comfortable standard of living for most inhabitants. However, the median home value is notably higher at $188,433, indicating that homeownership is a significant factor in the local economy.
Moving to the specifics of Section 8 vouchers, the Fair Market Rent (FMR) for ZIP 18641 in fiscal year 2024 is set at $970. This figure is marginally higher than the current market rent of $963, as reported by the Census Bureau's American Community Survey (ACS). This slight premium can be advantageous for landlords and small-portfolio investors, as it ensures a steady stream of rental income at rates that are competitive with the market.
The data signature for ZIP 18641 suggests a stable environment. The relatively high median income supports a robust local economy, while the slight increase in FMR over market rent indicates a balanced approach to housing assistance. Landlords can expect consistent demand from both voucher holders and market renters, making it an attractive investment location. The rental rate and median home value also imply a mix of homeowners and renters, providing diversity in the housing market.
In conclusion, ZIP 18641 presents a stable and promising opportunity for real estate investments, particularly for those interested in Section 8 properties. The demographics and economic indicators suggest a well-balanced community where the Section 8 program complements the existing market conditions effectively.
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.