Section 8 Fair Market Rent (FMR) for ZIP 18704 - 2027

Location: Scranton--Wilkes-Barre, PA | Metro: Scranton--Wilkes-Barre, PA MSA

Investment Score for ZIP 18704

D
Monthly Rent (2BR)
$1,420
Median Price (2BR)
$178,205
1% Rule
0.8%
Annual Yield
9.56%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size Monthly FMR
Studio$990
1 Bedroom$1,150
2 Bedrooms$1,420
3 Bedrooms$1,860
4 Bedrooms$2,040
5 Bedrooms$2,366
6 Bedrooms$2,650
7 Bedrooms$2,862
8 Bedrooms$3,005

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms Monthly FMR Median Price 1% Rule Grade
2BR $1,420 $178,205 0.8% D
3BR $1,860 $223,045 0.83% C
4BR $2,040 $277,446 0.74% D
5BR $2,366 $322,678 0.73% D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population
31,149
Median Household Income
$64,444
Housing Units
14,739
Renter Percentage
39.9%
Occupancy Rate
92.7%
Renter Occupied
5,460

Kingston, Pennsylvania, located in ZIP code 18704, stands out within Luzerne County due to its significant rental population and relatively high median home values. With a total of 31,149 residents, Kingston boasts a rental rate of 39.9%, indicating a substantial demand for housing units available for lease. The median income here is $64,444, which is slightly above the national average, while the median home value sits at $209,295, reflecting a moderate cost of living.

The economic dynamics of Section 8 vouchers in Kingston are particularly noteworthy. The Fair Market Rent (FMR) for the area, set at $1,050 for fiscal year 2024, is notably lower than the local market rent, measured at $1,347 via ZORI. This discrepancy suggests that landlords accepting Section 8 vouchers could see a shortfall between government payments and market rents, though it also highlights a potential opportunity to fill a gap in affordable housing. Landlords should be aware that they will need to cover the difference between the voucher amount and the market rent if they wish to maintain occupancy levels.

Given the data signature of ZIP 18704, the area can be characterized as stable. The consistent rental demand and median income levels indicate a steady economic environment. However, the ongoing challenge for landlords is to balance the acceptance of Section 8 vouchers with the realities of the local rental market. Despite the shortfall, the presence of a significant rental population and the need for affordable housing suggest that the use of Section 8 vouchers remains a viable option for both tenants and landlords in Kingston.

To summarize, Kingston's ZIP code 18704 is marked by a robust rental sector and reasonable home values. While landlords may face a slight financial disadvantage when accepting Section 8 vouchers, the overall stability of the area provides a reliable foundation for long-term investment. The key for landlords is to manage expectations and understand the local rental landscape to make informed decisions about their properties.

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.