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Luzerne County/Wilkes Barre/18702

18702

ZIPSAFMR
Luzerne County, PA
Zillow

ZIP Investment Score

148High yield potential

095130300
BRFMR
Eff. Rent
0 BR$950$1,050
1 BR$1,100$1,210
2 BR$1,360$1,500
3 BR$1,780$1,520
4 BR$1,960$1,660
5 BR$2,254Not available
6 BR$2,592Not available
7 BR$2,981Not available
8 BR$3,428Not available

Purchase Price Calculator

Maximum purchase price
$160,983

Cost breakdown

+Likely effective rent$1,500
HUD FMR$1,360
Market rent$1,920
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
0.65
1 BR
0.71
2 BR
0.71
3 BR
1.17
4 BR
1.18
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 18702 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 18702 (Wilkes Barre, PA) is $1,360 a month. That is up 10.6% from $1,230 in FY 2026. Wilkes Barre 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 57 ZIP codes in Luzerne County, 18702 is tied for the 31st-highest two-bedroom rent (county range $1,130–$1,890). The median county two-bedroom FMR in Pennsylvania is $1,136, so ZIP 18702 is 20% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 18702
BedroomsFY 2027Change90–110% range
Studio$950+11.8%$855–$1,045
1BR$1,100+8.9%$990–$1,210
2BR$1,360+10.6%$1,224–$1,496
3BR$1,780+11.3%$1,602–$1,958
4BR$1,960+12.6%$1,764–$2,156

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 18702
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$950$1,100$1,360$1,780$1,960
FY 2026$850$1,010$1,230$1,600$1,740
FY 2025$770$920$1,110$1,450$1,580
FY 2024$720$850$1,030$1,330$1,450
FY 2023$740$860$1,050$1,360$1,480

Two-bedroom rent in nearby Luzerne County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 18702
18661$1,700+25.0%
18701$1,130−16.9%
18702Current$1,360—
18703$1,370+0.7%
18704$1,420+4.4%
18705$1,3600.0%
18706$1,330−2.2%
18707$1,160−14.7%
18708$1,480+8.8%
18709$1,150−15.4%
18710$1,370+0.7%
18711$1,370+0.7%

Questions about ZIP 18702 rents

How much will Section 8 pay for a two-bedroom in ZIP 18702?

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 $1,360 it would be $1,224 to $1,496. 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 18702 in?

ZIP 18702 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 18702 for FY 2027?

The two-bedroom FMR rose 10.6%, from $1,230 in FY 2026 to $1,360 in FY 2027. Since FY 2023 it has risen 29.5%.

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