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 | $1,140 |
| 1 Bedroom | $1,230 |
| 2 Bedrooms | $1,470 |
| 3 Bedrooms | $1,750 |
| 4 Bedrooms | $1,930 |
| 5 Bedrooms | $2,239 |
| 6 Bedrooms | $2,508 |
| 7 Bedrooms | $2,709 |
| 8 Bedrooms | $2,844 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,470 | $215,827 | 0.68% | D |
| 3BR | $1,750 | $372,140 | 0.47% | F |
| 4BR | $1,930 | $414,722 | 0.47% | F |
U.S. Census Bureau data (2024)
Position ZIP code 08068, located in Pemberton Township, NJ, within the larger Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA. The Fair Market Rent (FMR) for ZIP 08068 in fiscal year 2024 is set at $1,540. This figure represents the maximum amount that a low-income household participating in the Section 8 housing choice voucher program can pay towards their rent.
The market rent for ZIP 08068 stands at $1,170, which is notably lower than the FMR. This suggests that properties in this area may be undervalued relative to the federal guidelines, potentially making it an attractive location for landlords who wish to benefit from a higher subsidy coverage rate per tenant. Additionally, the median home value in ZIP 08068 is $348,264, which is significantly below the average home values found in many ZIP codes within the MSA, indicating that this area could be considered a value pocket within the broader metro region.
A key metric to consider is the 35.4% renter share in ZIP 08068. This percentage is relatively high compared to the overall renter share in the Philadelphia-Camden-Wilmington MSA, which tends to be around 30%. A higher renter share combined with lower home values and a market rent that is less than the FMR points to ZIP 08068 being a prime location for Section 8 tenants. Landlords in this area might find it easier to fill vacancies with eligible renters due to the abundance of rental demand and the favorable subsidy structure.
In summary, ZIP 08068 appears to be a value pocket within the Philadelphia-Camden-Wilmington MSA, characterized by below-average home values, a slightly higher-than-average renter share, and a market rent that is lower than the FMR. These factors collectively suggest that this area offers opportunities for landlords and small-portfolio investors who are looking to participate in the Section 8 program, as it provides a combination of affordability and demand that can be beneficial for both tenants and property owners.
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.