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 | $1,370 |
| 1 Bedroom | $1,480 |
| 2 Bedrooms | $1,770 |
| 3 Bedrooms | $2,110 |
| 4 Bedrooms | $2,330 |
| 5 Bedrooms | $2,703 |
| 6 Bedrooms | $3,027 |
| 7 Bedrooms | $3,269 |
| 8 Bedrooms | $3,432 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,110 | $157,322 | 1.34% | A |
U.S. Census Bureau data (2024)
The dynamics of the ZIP code 08102 reveal a market in motion, characterized by significant rental activity and moderate home values. The Fair Market Rent (FMR) for ZIP 08102 stands at $1620 for fiscal year 2024, indicating a benchmark set by HUD for assessing affordability and eligibility for various housing assistance programs. This figure contrasts with the actual market rent, which is higher at $2,167 as measured by ZORI (Zillow Observed Rent Index).
The discrepancy between the FMR and the market rent suggests that the demand for rental properties may be outpacing the supply, leading to higher rents. This inference is supported by the fact that 76.4% of the residents in 08102 are renters. Such a high percentage of renters can imply long-term housing pressure, as it indicates a preference for renting over owning due to factors such as affordability, job mobility, or lifestyle choices.
The median home value in ZIP 08102 is $130,814, which is relatively low compared to national averages, pointing towards an area that may be attractive to first-time homebuyers or those seeking affordable homeownership options. However, the lack of specific data on price-cut shares and days on market (DOM) means we cannot definitively conclude whether the market is currently favoring buyers or sellers. In a market with a high renter share, the trend might suggest that the demand for rental units is strong, but without historical context, it's difficult to determine if this is indicative of a growing or declining market.
The interplay between these figures paints a picture of a market where rental demand is robust, possibly driven by the relatively low cost of homeownership. Landlords and small-portfolio investors should take note of the rental premiums over FMR, which could indicate a healthy cash flow potential for rental properties. However, the high percentage of renters also suggests that any changes in economic conditions could have a substantial impact on the local housing market, given the reliance on rental properties.
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.