Location: Susquehanna County, PA | Metro: Susquehanna County, PA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,480 |
| 5 Bedrooms | $1,717 |
| 6 Bedrooms | $1,923 |
| 7 Bedrooms | $2,077 |
| 8 Bedrooms | $2,181 |
U.S. Census Bureau data (2024)
The ZIP code 18821 presents several challenges for potential Section 8 landlords. Firstly, tenant turnover is a significant concern, with the market rent at $713 being notably lower than the Fair Market Rent (FMR) of $1,130. This discrepancy suggests that tenants may be attracted to higher rents outside the Section 8 program, leading to frequent moves and increased vacancy periods. The vacancy exposure is particularly high due to the lack of data on days on market (DOM), which indicates uncertainty in how quickly units can be filled. Additionally, the deferred maintenance exposure is concerning, as there is no typical home value data available, and the median income of $52,857 might not cover extensive repairs or upgrades needed to meet housing quality standards.
However, these risks must be weighed against the favorable conditions presented by the high renter share of 28.1%. High renter density often translates into a robust demand for rental properties, including those utilizing Section 8 vouchers. The strong presence of renters in the area can help mitigate some of the financial risks associated with vacancy and maintenance, as there is likely to be consistent interest in affordable housing options.
In conclusion, despite the challenges, the high renter density in ZIP 18821 creates a moderate risk environment for a first-time Section 8 landlord. The potential for steady tenant demand helps balance out the risks posed by tenant turnover and deferred maintenance.
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.