Location: Philadelphia-Camden-Wilmington, PA | Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,380 |
| 1 Bedroom | $1,490 |
| 2 Bedrooms | $1,780 |
| 3 Bedrooms | $2,120 |
| 4 Bedrooms | $2,340 |
| 5 Bedrooms | $2,714 |
| 6 Bedrooms | $3,040 |
| 7 Bedrooms | $3,283 |
| 8 Bedrooms | $3,447 |
The ZIP code 08101, located in the Philadelphia-Camden-Wilmington area of Pennsylvania, stands out due to the lack of detailed demographic data available for its residents, rental percentages, median income, and median home values. This scarcity of information can be attributed to various factors, including the size of the population or how the data is aggregated by the U.S. Census Bureau.
Despite the missing demographic details, the voucher economics provide insight into the rental market dynamics within ZIP 08101. The Fair Market Rent (FMR) for the fiscal year 2024 is set at $1670, which is the amount the federal government uses to determine the maximum rent subsidy for Section 8 housing vouchers. Without specific market rent data, it's challenging to compare the FMR to local rental rates, but the FMR gives landlords a benchmark for setting rents that align with government subsidies.
Landlords and small-portfolio investors should note that the voucher system can offer a steady stream of tenants who have their rent subsidized, ensuring timely payments. However, the actual market conditions in ZIP 08101 remain unclear without concrete figures on average market rents. It is advisable to consult local real estate agents or rental listings to get a sense of the typical rental prices in the area.
Given the limited data available, the economic situation in ZIP 08101 appears transitional. The absence of detailed resident and income data suggests that there might be changes in the population or economic status that are yet to be fully captured. Landlords and investors should keep an eye on future updates to these statistics to better understand the long-term stability of the area.
Data Sources: FMR data from HUD (2027).
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.