Location: Bradford County, 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 | $860 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,630 |
| 5 Bedrooms | $1,891 |
| 6 Bedrooms | $2,118 |
| 7 Bedrooms | $2,287 |
| 8 Bedrooms | $2,401 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,470 | $272,693 | 0.54% | F |
U.S. Census Bureau data (2024)
The ZIP code 18846 presents a dynamic rental market that is currently favoring landlords and small-portfolio investors. The Fair Market Rent (FMR) for the area stands at $1010 for the fiscal year 2024, while the actual market rent as reported by the Census ACS is higher at $1,261. This indicates that the rental market is robust and that properties are commanding rents above the government's fair market assessment.
The median home value in ZIP 18846 is $244,048, which suggests a relatively affordable housing market. However, the lack of data on price-cut share and days on market (DOM) means we cannot definitively conclude whether supply outpaces demand or vice versa. Nonetheless, the fact that market rents exceed FMR implies strong demand, possibly due to limited supply or attractive living conditions that draw tenants.
A key indicator of long-term housing pressure is the 10.7% renter share. This percentage reflects a significant portion of residents who prefer or must rely on rental housing over homeownership. In markets with a high renter share, there tends to be continuous pressure on rental availability, which can lead to steady demand for rental properties. Landlords should expect a stable tenant pool and consistent rental income in this ZIP code.
The discrepancy between the FMR and the actual market rent also signals that the local economy supports higher rental prices, potentially due to job opportunities, proximity to urban centers, or other economic factors that attract renters willing to pay above the assessed fair market rate.
In summary, ZIP 18846 offers a favorable environment for landlords and small-portfolio investors, with strong rental demand and prices exceeding government assessments. The high renter share suggests ongoing pressure for rental units, supporting a positive outlook for those managing rental properties in this area.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.