Location: Philadelphia-Camden-Wilmington, PA | Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,620 |
| 1 Bedroom | $1,790 |
| 2 Bedrooms | $2,130 |
| 3 Bedrooms | $2,570 |
| 4 Bedrooms | $2,920 |
| 5 Bedrooms | $3,387 |
| 6 Bedrooms | $3,793 |
| 7 Bedrooms | $4,096 |
| 8 Bedrooms | $4,301 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,570 | $392,137 | 0.66% | D |
| 4BR | $2,920 | $458,178 | 0.64% | D |
U.S. Census Bureau data (2024)
The market in ZIP code 08026 presents a dynamic environment characterized by specific metrics that shed light on its current state. The Fair Market Rent (FMR) stands at $2,610 for zip FY 2024, indicating a benchmark set by HUD for rental affordability. In contrast, the actual market rent, according to Census ACS data, is $1,420. This suggests a significant gap between the government's assessment of fair rent and what the market is currently offering, which could imply either an undersupply of affordable units or a highly competitive rental market.
The median home value in this area is $380,289. Given the absence of data on the percentage of price cuts and days on market (DOM), it's challenging to pinpoint whether supply outpaces demand or vice versa. However, the discrepancy between FMR and market rent hints at potential demand pressures, as renters may be seeking more affordable options than those indicated by the FMR.
The 14.3% renter share is another key indicator. This relatively low proportion of renters suggests a strong preference for homeownership among residents, which can translate into less immediate rental market volatility but also implies long-term housing pressure. As more people aim to purchase homes, the demand for homeownership can drive up property values and make renting a necessity for those who cannot afford to buy, thus perpetuating a cycle of housing pressure.
In summary, ZIP 08026 exhibits a market where the disparity between FMR and actual rents points towards a complex interplay of supply and demand factors. The lower renter share indicates a community with a strong inclination towards homeownership, which can influence both rental and sales markets over the long term. Landlords and small-portfolio investors should closely monitor these trends to inform their strategies.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.