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 | $1,750 |
| 2 Bedrooms | $2,090 |
| 3 Bedrooms | $2,490 |
| 4 Bedrooms | $2,750 |
| 5 Bedrooms | $3,190 |
| 6 Bedrooms | $3,573 |
| 7 Bedrooms | $3,859 |
| 8 Bedrooms | $4,052 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,090 | $288,140 | 0.73% | D |
| 3BR | $2,490 | $362,400 | 0.69% | D |
| 4BR | $2,750 | $416,347 | 0.66% | D |
| 5BR | $3,190 | $396,309 | 0.8% | C |
U.S. Census Bureau data (2024)
The analysis of Glassboro, NJ (ZIP 08028), situated within the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA, reveals several key points for landlords and small-portfolio investors.
Firstly, the rent math does not work favorably for landlords. The Fair Market Rent (FMR) for FY 2024 is set at $2070, whereas the market rent, measured by Zillow's ZORI, stands at $2,829. This means that landlords relying on Section 8 vouchers will be renting properties at a significant discount compared to the local market rate.
Secondly, acquisition affordability is limited. With a median home value of $366,248, purchasing properties in this area can be costly. Additionally, the lack of available data on days on market (DOM) and the extremely low price-cut share of 0.1% suggest that homes are selling quickly and at or near their asking prices, indicating a competitive market for property acquisition.
Lastly, there is substantial tenant demand. The population of 25,098 includes a significant rental market, with 39.0% of residents being renters. This high percentage of renters supports a strong demand for rental housing, which could benefit landlords willing to accept lower rents through Section 8 programs.
In conclusion, while Glassboro, NJ offers a robust tenant demand with nearly 40% of the population renting, the disparity between the FMR and market rent rates poses a challenge for landlords. The median home value and quick sales indicate that property acquisition is not particularly affordable. Therefore, investing in this area should be approached with an understanding that returns might be lower due to the reliance on Section 8 vouchers, but the steady demand for rentals ensures a stable occupancy rate.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.