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 | $1,220 |
| 1 Bedroom | $1,320 |
| 2 Bedrooms | $1,580 |
| 3 Bedrooms | $1,880 |
| 4 Bedrooms | $2,080 |
| 5 Bedrooms | $2,413 |
| 6 Bedrooms | $2,703 |
| 7 Bedrooms | $2,919 |
| 8 Bedrooms | $3,065 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,580 | $358,819 | 0.44% | F |
| 3BR | $1,880 | $477,538 | 0.39% | F |
| 4BR | $2,080 | $602,797 | 0.35% | F |
| 5BR | $2,413 | $795,804 | 0.3% | F |
U.S. Census Bureau data (2024)
The ZIP code 08035, encompassing Haddon Heights, NJ, presents a dynamic rental market that is currently experiencing a shift towards greater demand. This inference is drawn from the comparison between the Fair Market Rent (FMR) set at $1,690 for fiscal year 2024 and the reported market rent of $1,160 based on Census ACS data. The discrepancy suggests that while the FMR indicates a higher benchmark, actual rents are lower, potentially due to current supply exceeding demand. However, this gap also implies a potential upward pressure on rents as demand catches up.
The median home value of $491,659 places Haddon Heights in a middle-tier valuation range for the area, indicating a stable residential property market. Despite the lack of specific time-series data, the snapshot provides insight into the immediate economic conditions affecting the local housing market.
With a renter share of 22.8%, it's evident that a significant portion of the population opts for rental properties over homeownership. This statistic points to ongoing long-term housing pressure, as a higher percentage of renters can signal challenges in homeownership affordability or a preference for renting among residents. In a broader context, this could mean that there is an inherent demand for rental properties, which might lead to increased competition among landlords and potentially higher rental rates over time.
The current snapshot suggests a market in flux, where the balance between supply and demand is shifting. Landlords and small-portfolio investors should monitor these trends closely, as they indicate a rental market that is likely to evolve. The dynamics of a growing demand for rentals and a stable median home value create an environment where rental properties can be particularly attractive investments, given the persistent need for affordable housing options.
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.