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 | $1,270 |
| 1 Bedroom | $1,390 |
| 2 Bedrooms | $1,650 |
| 3 Bedrooms | $1,980 |
| 4 Bedrooms | $2,210 |
| 5 Bedrooms | $2,564 |
| 6 Bedrooms | $2,872 |
| 7 Bedrooms | $3,102 |
| 8 Bedrooms | $3,257 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,650 | $262,274 | 0.63% | D |
| 3BR | $1,980 | $342,127 | 0.58% | F |
| 4BR | $2,210 | $377,113 | 0.59% | F |
U.S. Census Bureau data (2024)
1760 is the Fair Market Rent (FMR) for ZIP code 08029, Glendora, NJ, as set for fiscal year 2024. This figure represents the upper limit for rental assistance payments under the Section 8 program. In contrast, the market rent reported by the Census ACS is 986, indicating a significant gap between subsidized and actual market rates. The median home value in this area stands at 330,897, offering a mix of affordability and investment potential. With a renter share of 25.3%, it's evident that nearly one-quarter of households prefer renting over homeownership, which can be advantageous for landlords looking to capitalize on demand. Median income in the region is 98,184, suggesting a moderate economic base that supports rental activities but does not necessarily indicate high-end market rents. The lack of data on days on market (DOM) and price-cut share suggests stability in the local real estate market, without frequent fluctuations or prolonged vacancies. For landlords and small-portfolio investors, these figures paint a picture of a stable market with opportunities for steady returns through Section 8 participation. However, the substantial difference between the FMR and market rent means that landlords will need to balance their rental offerings to attract both subsidized and non-subsidized tenants. Given the data, the Section 8 program remains a viable option for Glendora, NJ, with the potential to ensure consistent occupancy and cash flow.
1760 is also the critical threshold for landlords seeking to participate in the Section 8 program, ensuring they receive payments up to this amount per unit. Meanwhile, the 986 average market rent highlights the need for competitive pricing strategies to attract tenants outside the Section 8 program. The 330,897 median home value indicates that while properties are not overly expensive, there is still a reasonable equity stake for landlords. The 25.3% renter share underscores the ongoing demand for rental units, making the area attractive for those who wish to invest in real estate. With a median income of 98,184, tenants have the financial capacity to contribute to rent beyond the subsidy, potentially leading to a diverse tenant pool. The absence of data on days on market and price-cut share implies that the market is steady, reducing the risk of prolonged vacancies or the need to reduce prices to attract tenants.
Given the analysis, the Section 8 program in ZIP 08029 offers a reliable source of income for landlords willing to meet the program's requirements. It ensures a stable tenant base and provides a predictable revenue stream, making it a valuable tool for real estate investors in Glendora, NJ. The verdict on Section 8 for this area is positive, supporting continued participation as a means to maintain occupancy and manage cash flow effectively.
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.