Section 8 Fair Market Rent (FMR) for ZIP 08074 - 2027

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

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,350
1 Bedroom	$1,470
2 Bedrooms	$1,750
3 Bedrooms	$2,100
4 Bedrooms	$2,340
5 Bedrooms	$2,714
6 Bedrooms	$3,040
7 Bedrooms	$3,283
8 Bedrooms	$3,447

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

160

Median Household Income

$N/A

Housing Units

Renter Percentage

N/A

Occupancy Rate

100.0%

Renter Occupied

To determine if a landlord should invest in ZIP code 08074 for Section 8 properties, follow this decision tree:

Does the Fair Market Rent (FMR) of $1720 cover debt service on a property?
- If Yes: Proceed to the next question.
- If No: Do not buy in this ZIP code. The FMR is insufficient to meet financial obligations.
Is the market rent above, at, or below the FMR of $1720?
- If Above: Consider the difference between the market rent and FMR. If the gap is significant, it may not be viable due to the subsidy cap.
- If At or Below: Move to the final question. This indicates that the FMR can potentially support the property's financial needs.
Are the rental demand factors sufficient?
- If 0.0% of the population are renters and the Days on Market (DOM) is N/A: There is insufficient demand. Do not purchase in this ZIP code. The low percentage of renters and unknown DOM suggest a weak rental market.

The decision hinges on whether the FMR can support the property financially, if the market rent aligns with the FMR, and if there is adequate demand from potential tenants. In ZIP 08074, the FMR must first be evaluated against the debt service requirements. If it does not cover these costs, investment is not recommended. If it does cover debt service, then the comparison of market rent to FMR becomes critical. A market rent significantly above the FMR could indicate that the property would not be eligible under Section 8 due to the subsidy limits. Finally, the rental demand indicators show that there is currently no sufficient tenant pool, as evidenced by the 0.0% renters and unknown DOM, making this ZIP code a poor choice for Section 8 investments.

Data Sources: FMR data from HUD (2027). 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.