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Lackawanna County/Elmhurst/18416

18416

ZIPFMR
Lackawanna County, PA
Zillow
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ZIP Investment Score

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095130300
BRFMR
Eff. Rent
0 BR$949$1,040
1 BR$1,106$1,220
2 BR$1,363$1,500
3 BR$1,786$1,930
4 BR$1,962$2,030
5 BR$2,256Not available
6 BR$2,595Not available
7 BR$2,984Not available
8 BR$3,432Not available

Purchase Price Calculator

Maximum purchase price
$160,983

Cost breakdown

+Likely effective rent$1,500
HUD FMR$1,363
Market rent$1,630
Est. payment standard (110%)Used$1,500
-Principal and interest-$814
Loan amount$128,786
Down payment$32,197
Rate6.50%
Term30 years
-Operating costs-$486
Property taxes-$161
Insurance-$175
Utilities$0
HOA$0
Management-$150
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$24,192(75.1% ROI)
Projected value
$173,361
Return breakdown
Property appreciation+$12,378
Loan principal paid down+$4,614
Rental cash flow+$7,200
5-year hold
+$41,383(128.5% ROI)
Projected value
$182,137
Return breakdown
Property appreciation+$21,154
Loan principal paid down+$8,228
Rental cash flow+$12,000
10-year hold
+$88,695(275.5% ROI)
Projected value
$206,072
Return breakdown
Property appreciation+$45,089
Loan principal paid down+$19,606
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.77
1 BR
0.83
2 BR
0.84
3 BR
0.89
4 BR
0.95
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
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Tax rate
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Mortgage rate
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ZIP 18416 fair market rent, FY 2027

For FY 2027, HUD's Fair Market Rent for a two-bedroom unit in ZIP 18416 (Elmhurst, PA) is $1,363 a month. That is up 8.9% from $1,252 in FY 2026. Elmhurst is in the Scranton--Wilkes-Barre, PA MSA. The median county two-bedroom FMR in Pennsylvania is $1,136, so ZIP 18416 is 20% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 18416
BedroomsFY 2027Change90–110% range
Studio$949+10.0%$854–$1,044
1BR$1,106+7.6%$995–$1,217
2BR$1,363+8.9%$1,227–$1,499
3BR$1,786+9.5%$1,607–$1,965
4BR$1,962+11.1%$1,766–$2,158

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 18416
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$949$1,106$1,363$1,786$1,962
FY 2026$863$1,028$1,252$1,631$1,766
FY 2025$779$928$1,123$1,462$1,596
FY 2024$730$854$1,039$1,343$1,464
FY 2023$706$825$1,008$1,304$1,417

Questions about ZIP 18416 rents

How much will Section 8 pay for a two-bedroom in ZIP 18416?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,363, that basic range is $1,227 to $1,499 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 ZIP 18416 in?

ZIP 18416 is in the Scranton--Wilkes-Barre, PA MSA. Small Area FMRs are not mandatory in this area.

How much did fair market rent change in ZIP 18416 for FY 2027?

The two-bedroom FMR rose 8.9%, from $1,252 in FY 2026 to $1,363 in FY 2027. Since FY 2023 it has risen 35.2%.

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

County fair market rentElmhurst, PA fair market rentPA statewide rentsWhat is SAFMR?Data sources