Location: Philadelphia-Camden-Wilmington, PA | Metro: Atlantic City-Hammonton, NJ HUD Metro FMR Area
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 | $1,630 |
| 1 Bedroom | $1,850 |
| 2 Bedrooms | $2,240 |
| 3 Bedrooms | $3,020 |
| 4 Bedrooms | $3,340 |
| 5 Bedrooms | $3,874 |
| 6 Bedrooms | $4,339 |
| 7 Bedrooms | $4,686 |
| 8 Bedrooms | $4,920 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,240 | $269,006 | 0.83% | C |
| 3BR | $3,020 | $346,546 | 0.87% | C |
| 4BR | $3,340 | $412,135 | 0.81% | C |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP 08215 in fiscal year 2024 is set at $1,770. This figure is significantly lower than the market rent of $2,650, indicating a potential opportunity for rental income above the FMR threshold. However, the median home value of $335,089 suggests that the initial investment required to enter this market is relatively high, especially when considering the typical price range for properties in the area.
Regarding stability, the ZIP code has a renter population of 26.7%, which is below the national average. This could imply a somewhat unstable tenant pool, though it's not necessarily indicative of high turnover rates without additional data on days on market (DOM). The median household income in the area is $80,893, which is a positive factor for landlords, as it suggests tenants have a reasonable ability to pay rent. However, the lack of data on days on market leaves some uncertainty regarding how quickly properties might be rented out.
To summarize, ZIP 08215 offers a moderate yield due to the discrepancy between the FMR and market rent. However, the stability is questionable given the limited data on tenant retention and the relatively low percentage of renters. This market is neither a high-yield/low-stability flip-style environment nor a steady cash-flow zone; instead, it represents an area where careful consideration of investment versus rental income should be made. Landlords and investors should focus on properties that offer a balance between attractive rental yields and the likelihood of retaining financially stable tenants.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.