Location: Philadelphia-Camden-Wilmington, PA | Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,090 |
| 1 Bedroom | $1,180 |
| 2 Bedrooms | $1,410 |
| 3 Bedrooms | $1,680 |
| 4 Bedrooms | $1,850 |
| 5 Bedrooms | $2,146 |
| 6 Bedrooms | $2,404 |
| 7 Bedrooms | $2,596 |
| 8 Bedrooms | $2,726 |
U.S. Census Bureau data (2024)
The ZIP code 08511, located in New Hanover Township, NJ, presents a real estate market that is neither a high-yield/low-stability flip-style market nor a steady-cashflow zone but rather falls somewhere in between. The key figures driving this classification are the Federal Market Rent (FMR) of $1,360 for fiscal year 2024, the market rent of $1,150, and the average home value of $440,244.
Yield: The FMR of $1,360 is higher than the market rent of $1,150, indicating that properties in this area can potentially generate above-average rental income compared to the local market. However, the gap is not substantial enough to classify it as a high-yield market. This suggests that while there is room for profit, it is not excessively high.
Stability: With 48.7% of residents being renters, the market has a moderate level of stability. The lack of data regarding days on market (DOM) makes it challenging to assess the speed of property turnover, which could indicate market volatility. However, the median household income of $80,952 provides a stable economic foundation, suggesting that tenants are likely to have the financial means to maintain consistent rental payments.
To further analyze the market, consider the following points:
In conclusion, ZIP 08511 offers a balanced approach for landlords and small-portfolio investors. It is not a high-risk, high-reward market but also not a consistently low-risk, low-reward investment. The combination of reasonable yields and moderate stability makes it a viable option for those seeking a middle ground in their real estate investments.
Data Sources: FMR data from HUD (2027). 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.