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PA/Wayne County/South Canaan

South Canaan, PA

CityFMR
Wayne County
Found 1 ZIP
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City Investment Score

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095130300
BRFMR
Eff. Rent
0 BR$874$874
1 BR$1,008$1,008
2 BR$1,184$1,184
3 BR$1,509$1,509
4 BR$1,979$1,979
5 BR$2,276Not available
6 BR$2,617Not available
7 BR$3,010Not available
8 BR$3,461Not available

Purchase Price Calculator

Maximum purchase price
$114,025

Cost breakdown

+Likely effective rent$1,184
HUD FMRUsed$1,184
Market rentN/A
Est. payment standardN/A
-Principal and interest-$577
Loan amount$91,220
Down payment$22,805
Rate6.50%
Term30 years
-Operating costs-$407
Property taxes-$114
Insurance-$175
Utilities$0
HOA$0
Management-$118
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$19,236(84.3% ROI)
Projected value
$122,793
Return breakdown
Property appreciation+$8,767
Loan principal paid down+$3,268
Rental cash flow+$7,200
5-year hold
+$32,812(143.9% ROI)
Projected value
$129,009
Return breakdown
Property appreciation+$14,984
Loan principal paid down+$5,828
Rental cash flow+$12,000
10-year hold
+$69,824(306.2% ROI)
Projected value
$145,962
Return breakdown
Property appreciation+$31,937
Loan principal paid down+$13,887
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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South Canaan, PA fair market rent, FY 2027

For FY 2027, HUD's Fair Market Rent for a two-bedroom unit in South Canaan, PA is $1,184 a month. That is up 4.6% from $1,132 in FY 2026. South Canaan is in the Wayne County, PA non-metropolitan FMR area. One county-wide FMR applies to every ZIP code in it. The median county two-bedroom FMR in Pennsylvania is $1,136, so South Canaan is 4% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for South Canaan, PA
BedroomsFY 2027Change90–110% range
Studio$874+6.1%$787–$961
1BR$1,008+8.7%$907–$1,109
2BR$1,184+4.6%$1,066–$1,302
3BR$1,509+6.5%$1,358–$1,660
4BR$1,979+4.2%$1,781–$2,177

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for South Canaan, PA
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$874$1,008$1,184$1,509$1,979
FY 2026$824$927$1,132$1,417$1,899
FY 2025SAFMR$800$900$1,090$1,310$1,830
FY 2024$712$850$998$1,218$1,694
FY 2023$698$822$979$1,192$1,373

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Questions about South Canaan, PA rents

How much will Section 8 pay for a two-bedroom in South Canaan, PA?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,184, that basic range is $1,066 to $1,302 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is South Canaan, PA in?

South Canaan, PA is in the Wayne County, PA non-metropolitan FMR area.

How much did fair market rent change in South Canaan, PA for FY 2027?

The two-bedroom FMR rose 4.6%, from $1,132 in FY 2026 to $1,184 in FY 2027. Since FY 2023 it has risen 20.9%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Fair Market Rents. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set