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Lackawanna County/Olyphant/18447

18447

ZIPSAFMR
Lackawanna County, PA
Zillow

ZIP Investment Score

116Above average

095130300
BRFMR
Eff. Rent
0 BR$960$890
1 BR$1,120$1,100
2 BR$1,380$1,420
3 BR$1,810$1,660
4 BR$1,990$2,090
5 BR$2,289Not available
6 BR$2,632Not available
7 BR$3,027Not available
8 BR$3,481Not available

Purchase Price Calculator

Maximum purchase price
$149,095

Cost breakdown

+Likely effective rent$1,420
HUD FMR$1,380
Market rent$1,440
Est. payment standard (103%)Used$1,420
-Principal and interest-$754
Loan amount$119,276
Down payment$29,819
Rate6.50%
Term30 years
-Operating costs-$466
Property taxes-$149
Insurance-$175
Utilities$0
HOA$0
Management-$142
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$22,937(76.9% ROI)
Projected value
$160,559
Return breakdown
Property appreciation+$11,464
Loan principal paid down+$4,273
Rental cash flow+$7,200
5-year hold
+$39,213(131.5% ROI)
Projected value
$168,687
Return breakdown
Property appreciation+$19,592
Loan principal paid down+$7,621
Rental cash flow+$12,000
10-year hold
+$83,918(281.4% ROI)
Projected value
$190,854
Return breakdown
Property appreciation+$41,759
Loan principal paid down+$18,158
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.08
1 BR
1.02
2 BR
0.96
3 BR
1.09
4 BR
0.93
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 18447 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 18447 (Olyphant, PA) is $1,380 a month. That is up 7.8% from $1,280 in FY 2026. Olyphant 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, 18447 is tied for the 12th-highest two-bedroom rent (county range $1,130–$1,700). The median county two-bedroom FMR in Pennsylvania is $1,136, so ZIP 18447 is 21% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 18447
BedroomsFY 2027Change90–110% range
Studio$960+9.1%$864–$1,056
1BR$1,120+6.7%$1,008–$1,232
2BR$1,380+7.8%$1,242–$1,518
3BR$1,810+8.4%$1,629–$1,991
4BR$1,990+9.9%$1,791–$2,189

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 18447
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$960$1,120$1,380$1,810$1,990
FY 2026$880$1,050$1,280$1,670$1,810
FY 2025$810$970$1,170$1,520$1,660
FY 2024$770$900$1,090$1,410$1,540
FY 2023$730$850$1,040$1,350$1,460

Two-bedroom rent in nearby Lackawanna County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 18447
18421$1,130−18.1%
18424$1,3800.0%
18433$1,310−5.1%
18434$1,330−3.6%
18436$1,330−3.6%
18440$1,290−6.5%
18444$1,310−5.1%
18446$1,150−16.7%
18447Current$1,380—
18452$1,350−2.2%
18471$1,670+21.0%
18472$1,250−9.4%

Questions about ZIP 18447 rents

How much will Section 8 pay for a two-bedroom in ZIP 18447?

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 $1,380 it would be $1,242 to $1,518. 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 18447 in?

ZIP 18447 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 18447 for FY 2027?

The two-bedroom FMR rose 7.8%, from $1,280 in FY 2026 to $1,380 in FY 2027. Since FY 2023 it has risen 32.7%.

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