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 | $1,880 |
| 1 Bedroom | $2,040 |
| 2 Bedrooms | $2,430 |
| 3 Bedrooms | $2,900 |
| 4 Bedrooms | $3,190 |
| 5 Bedrooms | $3,700 |
| 6 Bedrooms | $4,144 |
| 7 Bedrooms | $4,476 |
| 8 Bedrooms | $4,700 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,430 | $323,085 | 0.75% | D |
| 3BR | $2,900 | $485,685 | 0.6% | F |
| 4BR | $3,190 | $644,855 | 0.49% | F |
| 5BR | $3,700 | $754,598 | 0.49% | F |
U.S. Census Bureau data (2024)
2610 is the Fair Market Rent (FMR) for ZIP code 08088 in Southampton Township, New Jersey, for fiscal year 2024. This figure represents the maximum amount that a landlord can charge for a Section 8 rental unit in this area. In contrast, the market rent for the same region, as reported by the Census ACS, stands at 1784 dollars, indicating a significant premium for Section 8 participants. The median home value in this ZIP code is 458775 dollars, suggesting a relatively affluent neighborhood where the average renter may find it challenging to afford housing without assistance. Renter share in the area is only 4.5%, which means that the majority of residents own their homes, making it a less common market for traditional rentals.
110000 dollars is the median income for households in ZIP 08088, providing insight into the financial capabilities of potential tenants. Given the disparity between the market rent and the FMR, landlords stand to benefit financially from participating in the Section 8 program, especially considering the local median income levels. Additionally, the days on market (DOM) for properties in this area is 29 days, indicating a brisk pace of sales and a strong demand for housing. The price-cut share is just 0.2%, reflecting the seller's market conditions where homes rarely need to be discounted to sell.
The verdict for Section 8 participation in ZIP 08088 is positive, given the favorable rent-to-income ratio and the premium landlords can command through the program over typical market rents. Landlords can secure steady, government-backed rental income while offering affordable housing options in an otherwise high-priced market.
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.