Location: Philadelphia-Camden-Wilmington, PA | Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,160 |
| 1 Bedroom | $2,340 |
| 2 Bedrooms | $2,790 |
| 3 Bedrooms | $3,320 |
| 4 Bedrooms | $3,670 |
| 5 Bedrooms | $4,257 |
| 6 Bedrooms | $4,768 |
| 7 Bedrooms | $5,149 |
| 8 Bedrooms | $5,406 |
U.S. Census Bureau data (2024)
The ZIP code 08019 stands out in County due to its unique data profile. With only 907 residents, it has a rental rate of 7.6%, indicating that most homeowners own their properties outright. The median household income in ZIP 08019 is $172,500, reflecting a relatively affluent community. Furthermore, the median home value is impressively high at $455,538, which places it among the higher-value areas within the county.
When it comes to voucher economics, the Fair Market Rent (FMR) for ZIP 08019 is set at $2,610 for fiscal year 2024. This figure contrasts sharply with the market rent of $2,031 reported by the Census Bureau's American Community Survey (ACS), suggesting a potential gap between subsidized housing costs and actual market rates. Landlords in this area should be aware that the FMR is designed to cover the cost of rental units that are modest and in good repair, while also accounting for utilities and other necessary housing expenses. This means that the voucher amount can be leveraged to attract tenants who might otherwise struggle to afford living in such an expensive ZIP code.
The data signature for ZIP 08019 reads as "stable." The high median income and home values indicate a strong economic foundation that supports the local real estate market. Additionally, the low percentage of renters suggests a preference for homeownership, which typically implies a stable population with long-term ties to the area. For small-portfolio investors and landlords, this stability presents a favorable environment for investment, with the potential for steady returns and minimal risk of sudden market fluctuations.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.