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 | $1,650 |
| 1 Bedroom | $1,790 |
| 2 Bedrooms | $2,140 |
| 3 Bedrooms | $2,550 |
| 4 Bedrooms | $2,810 |
| 5 Bedrooms | $3,260 |
| 6 Bedrooms | $3,651 |
| 7 Bedrooms | $3,943 |
| 8 Bedrooms | $4,140 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,140 | $405,810 | 0.53% | F |
| 3BR | $2,550 | $492,917 | 0.52% | F |
| 4BR | $2,810 | $652,189 | 0.43% | F |
| 5BR | $3,260 | $736,803 | 0.44% | F |
U.S. Census Bureau data (2024)
The Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA is characterized by high rental costs and diverse economic activities. In ZIP 08108, located in Collingswood, NJ, the Fair Market Rent (FMR) for fiscal year 2024 is set at $1950, while the market rent is $2,362. The median home value is $493,474, and the renter share is 36.3%.
Comparatively, the FMR in the broader Philadelphia-Camden-Wilmington MSA is significantly higher, with some areas exceeding the national average. For instance, the FMR in certain parts of the MSA is reported to be much higher than the $1,372 noted for ZIP 08108. This suggests that ZIP 08108 has a below-average FMR relative to the metro, positioning it as a value pocket within the larger MSA.
The market rent in 08108 is above its FMR but remains lower than many affluent ZIP codes in the MSA. Given that the market rent is $2,362, this indicates a slight premium over the FMR but still below the higher rents seen in wealthier areas. The median home value of $493,474 is also indicative of a middle-class neighborhood, offering more affordable options compared to the upscale sections of the MSA.
A noteworthy divergence is the high renter share of 36.3% in ZIP 08108, coupled with below-metro average home values. This combination often signals a potential sweet spot for Section 8 investments, where a substantial number of renters benefit from housing subsidies, creating a stable and predictable tenant base for landlords.
In conclusion, ZIP 08108 is best described as a value pocket within the Philadelphia-Camden-Wilmington MSA, offering a balance between affordability and demand for rental properties. It presents an attractive opportunity for landlords and small-portfolio investors seeking to engage with a market where Section 8 vouchers are prevalent.
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.