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 | $1,290 |
| 1 Bedroom | $1,400 |
| 2 Bedrooms | $1,670 |
| 3 Bedrooms | $1,990 |
| 4 Bedrooms | $2,190 |
| 5 Bedrooms | $2,540 |
| 6 Bedrooms | $2,845 |
| 7 Bedrooms | $3,073 |
| 8 Bedrooms | $3,227 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,670 | $160,790 | 1.04% | B |
| 3BR | $1,990 | $196,405 | 1.01% | B |
| 4BR | $2,190 | $234,608 | 0.93% | C |
U.S. Census Bureau data (2024)
The analysis of ZIP code 08105, located in Camden, NJ, within the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA metro area, reveals several key points regarding its suitability for Section 8 real-estate investments.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for ZIP 08105 in fiscal year 2024 is set at $1,620. In contrast, the Census ACS reports the average market rent at $1,320. This means that landlords participating in the Section 8 program can expect to receive a higher rental income compared to the current market rate, making the rent math favorable for those who qualify.
Regarding the affordability of acquisitions, the median home value in ZIP 08105 is $173,203. However, the lack of data on days on market (DOM) and the low percentage of homes requiring price cuts (0.1%) suggests that while homes are relatively inexpensive, they may not be as readily available as in areas with higher turnover rates. This could indicate challenges in finding properties quickly or negotiating lower prices.
The third point concerns tenant demand. With a total population of 26,483 and a renter share of 59.8%, there is a significant number of potential tenants looking for housing. This high renter share indicates a strong demand for rental properties, which bodes well for the occupancy rates of Section 8 properties in the area.
In summary, ZIP 08105 presents a mixed picture for Section 8 real-estate investments. While the rent math works in favor of landlords due to the higher FMR compared to the market rent, the acquisition process may be challenging given the limited availability of properties for sale. Nonetheless, the robust tenant demand ensures that once a property is acquired and certified for the program, it will likely be occupied. For landlords and small-portfolio investors willing to navigate the acquisition hurdles, the potential for steady rental income and high occupancy makes this ZIP code a viable option for Section 8 investments.
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.