Section 8 Fair Market Rent (FMR) for ZIP 08030 - 2027

Location: Philadelphia-Camden-Wilmington, PA | Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA

Investment Score for ZIP 08030

Monthly Rent (2BR)

$1,970

Median Price (2BR)

$211,841

1% Rule

0.93%

Annual Yield

11.16%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,520
1 Bedroom	$1,650
2 Bedrooms	$1,970
3 Bedrooms	$2,350
4 Bedrooms	$2,590
5 Bedrooms	$3,004
6 Bedrooms	$3,364
7 Bedrooms	$3,633
8 Bedrooms	$3,815

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,970	$211,841	0.93%	C
3BR	$2,350	$246,845	0.95%	C
4BR	$2,590	$289,218	0.9%	C

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

13,217

Median Household Income

$63,384

Housing Units

5,361

Renter Percentage

38.2%

Occupancy Rate

91.6%

Renter Occupied

1,878

Gloucester City, NJ, located in ZIP code 08030, is a small town with a rich history and a growing interest in affordable housing options. The local real estate market offers opportunities for both landlords and small-portfolio investors looking to capitalize on rental properties and residential investments.

The Fair Market Rent (FMR) for the area in fiscal year 2024 is set at $1,820, which provides a benchmark for rental pricing.
The actual market rent, as measured by Zillow's ZORI index, stands at $1,977, indicating that rents are slightly above the FMR threshold.
The median home value in Gloucester City is $237,518, making it an attractive location for those seeking to invest in lower-cost housing markets.
Renters make up 38.2% of the population, showing a significant demand for rental properties in the area.
The median household income in the region is $63,384, providing insight into the financial capacity of potential tenants.

Investors should note that the market rent exceeds the FMR, suggesting a healthy demand for rental units. The relatively low median home value indicates that Gloucester City remains a cost-effective market for property acquisitions. With nearly 40% of residents being renters, there is a substantial tenant base available. However, the lack of data on days on market (DOM) means that the speed at which properties sell or lease cannot be accurately assessed. Overall, Gloucester City presents a viable investment opportunity for those interested in a stable rental market with a strong tenant pool and reasonable property costs.

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.