Location: Bradford County, PA | Metro: Bradford County, PA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
U.S. Census Bureau data (2024)
The ZIP code 18845 is located in a suburban neighborhood characterized by a relatively small population of 489 residents. Only 9.1% of these residents are renters, indicating a predominantly owner-occupied community. The median income in this area stands at $58,036, which suggests a middle-class demographic. The median home value is $219,822, reflecting an affordable housing market.
Moving into the economic realities of renting, the Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $1,180. However, the actual market rent, according to the Census ACS, is lower at $940. This discrepancy between FMR and market rent presents an opportunity for landlords and small-portfolio investors to potentially charge closer to the FMR level, benefiting from higher rental income while still being within the guidelines for Section 8 vouchers.
Given these conditions, ZIP 18845 is well-suited for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the low percentage of renters and the gap between FMR and market rent means there is a smaller pool of potential voucher recipients but also less competition, making it easier to maintain a stable tenant base without needing to actively manage properties beyond basic maintenance. On the other hand, for hands-on buyers looking to improve property values and rents, the affordability of homes and the relatively low market rent suggest a market ripe for enhancement. By investing in property upgrades and positioning units closer to the FMR, these buyers can attract tenants willing to pay higher rents, thereby increasing their investment returns.
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.