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 | $1,480 |
| 1 Bedroom | $1,610 |
| 2 Bedrooms | $1,910 |
| 3 Bedrooms | $2,320 |
| 4 Bedrooms | $2,670 |
| 5 Bedrooms | $3,097 |
| 6 Bedrooms | $3,469 |
| 7 Bedrooms | $3,747 |
| 8 Bedrooms | $3,934 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,320 | $388,909 | 0.6% | F |
| 4BR | $2,670 | $558,804 | 0.48% | F |
U.S. Census Bureau data (2024)
The ZIP code 08061 represents a high-end residential area characterized by its affluent demographic and low rental population. With only 1.5% of the 4,508 residents being renters, it's evident that this is primarily an owner-occupied neighborhood. The median household income stands at a robust $150,658, indicating a community where homeowners enjoy considerable financial stability. Reflecting this wealth, the median home value in the area is $456,300, placing it firmly in the upper echelon of housing markets.
Moving into the specifics of rental economics, the Fair Market Rent (FMR) for ZIP 08061 is set at $2,610 for fiscal year 2024. However, due to the scarcity of rental properties, specific market rent figures are not readily available, suggesting that rental properties command a premium in this exclusive area. Given the high median income levels and the limited number of rental units, it's reasonable to infer that market rents would likely exceed the FMR, making rental properties highly sought after.
Considering the characteristics of the ZIP code, it's clear that this area is not well-suited for hands-off Section 8 voucher operators. The low percentage of renters and the high income levels suggest that tenants eligible for Section 8 vouchers may struggle to afford the cost of living in this area, potentially leading to higher vacancy rates and management challenges. Instead, this ZIP code is better aligned with hands-on value-add buyers who can leverage the strong underlying demand for housing and the potential for premium rents. These investors could focus on enhancing property values through renovations and strategic positioning, thereby attracting tenants willing to pay above the FMR and ensuring a steady stream of income.
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.