18421

ZIPSAFMR

Lackawanna County, PA

ZIP Investment Score

89Below average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$780	$860	6.8%
1 BR	$930	$990	7.4%
2 BR	$1,130	$1,160	7.5%
3 BR	$1,470	$1,250	7.6%
4 BR	$1,710	$1,300	10.1%
5 BR	$1,966	Not available	10.1%
6 BR	$2,261	Not available	10.1%
7 BR	$2,601	Not available	10.1%
8 BR	$2,991	Not available	10.1%

Purchase Price Calculator

Maximum purchase price

$110,459

Cost breakdown

+Likely effective rent$1,160

HUD FMR$1,130

Market rent$1,180

Est. payment standard (103%)Used$1,160

-Principal and interest-$559

Loan amount$88,367

Down payment$22,092

Rate6.50%

Term30 years

-Operating costs-$401

Property taxes-$110

Insurance-$175

Utilities$0

HOA$0

Management-$116

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$18,859(85.4% ROI)

Projected value

$118,952

Return breakdown

Property appreciation+$8,493

Loan principal paid down+$3,166

Rental cash flow+$7,200

5-year hold

+$32,161(145.6% ROI)

Projected value

$124,974

Return breakdown

Property appreciation+$14,515

Loan principal paid down+$5,646

Rental cash flow+$12,000

10-year hold

+$68,391(309.6% ROI)

Projected value

$141,397

Return breakdown

Property appreciation+$30,938

Loan principal paid down+$13,453

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

0.74ratio

FMR$780

Market$1,060

vs market-$280

FMR is below market; voucher rent may lag private rents.

0.74

1 BR

0.90ratio

FMR$930

Market$1,030

vs market-$100

FMR is near market; voucher and private rents are aligned.

0.90

2 BR

0.96ratio

FMR$1,130

Market$1,180

vs market-$50

FMR is near market; voucher and private rents are aligned.

0.96

3 BR

1.18ratio

FMR$1,470

Market$1,250

vs market+$220

FMR is above market; underwrite to market rent.

1.18

4 BR

1.32ratio

FMR$1,710

Market$1,300

vs market+$410

FMR is above market; underwrite to market rent.

1.32

0.700.800.901.001.101.201.30aligned range

Historical

FY 2023-2027

FMR: FY2027
Market rent: last ~365 days
Property value: --
Tax rate: --
Mortgage rate: --

ZIP 18421 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 18421 (Forest City, PA) is $1,130 a month. That is up 10.8% from $1,020 in FY 2026. Forest City is in the Scranton--Wilkes-Barre, PA MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,363. Among 37 ZIP codes in Lackawanna County, 18421 has the 37th-highest two-bedroom rent (county range $1,130–$1,700).

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 18421
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$720	$780	+8.3%	$702–$858
1BR	$840	$930	+10.7%	$837–$1,023
2BR	$1,020	$1,130	+10.8%	$1,017–$1,243
3BR	$1,320	$1,470	+11.4%	$1,323–$1,617
4BR	$1,650	$1,710	+3.6%	$1,539–$1,881

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 18421
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$780	$930	$1,130	$1,470	$1,710
FY 2026	$720	$840	$1,020	$1,320	$1,650
FY 2025	$660	$770	$940	$1,210	$1,530
FY 2024	$640	$750	$910	$1,180	$1,280
FY 2023	$600	$700	$850	$1,100	$1,190

Two-bedroom rent in nearby Lackawanna County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 18421
18403	$1,260	+11.5%
18407	$1,230	+8.8%
18410	$1,370	+21.2%
18411	$1,680	+48.7%
18414	$1,660	+46.9%
18419	$1,290	+14.2%
18420	$1,410	+24.8%
18421Current	$1,130	—
18424	$1,380	+22.1%
18433	$1,310	+15.9%
18434	$1,330	+17.7%
18436	$1,330	+17.7%

Questions about ZIP 18421 rents

How much will Section 8 pay for a two-bedroom in ZIP 18421?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,363, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,227 to $1,499 a month; under the ZIP-level Small Area FMR of $1,130 it would be $1,017 to $1,243. 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 18421 in?

ZIP 18421 is in the Scranton--Wilkes-Barre, PA MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,363.

How much did fair market rent change in ZIP 18421 for FY 2027?

The two-bedroom FMR rose 10.8%, from $1,020 in FY 2026 to $1,130 in FY 2027. Since FY 2023 it has risen 32.9%.

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 Small Area Fair Market Rents and area FMRs. 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 rent Forest City, PA fair market rent PA statewide rents What is SAFMR?Data sources