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 | $1,280 |
| 1 Bedroom | $1,380 |
| 2 Bedrooms | $1,650 |
| 3 Bedrooms | $1,970 |
| 4 Bedrooms | $2,170 |
| 5 Bedrooms | $2,517 |
| 6 Bedrooms | $2,819 |
| 7 Bedrooms | $3,045 |
| 8 Bedrooms | $3,197 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,380 | $113,582 | 1.21% | A |
| 2BR | $1,650 | $210,489 | 0.78% | D |
| 3BR | $1,970 | $372,004 | 0.53% | F |
| 4BR | $2,170 | $498,446 | 0.44% | F |
U.S. Census Bureau data (2024)
1580 is the Fair Market Rent (FMR) for ZIP code 08518 in Florence, NJ, for fiscal year 2024, setting the benchmark for rental assistance programs. 1359 represents the average market rent reported by the Census Bureau's American Community Survey, indicating a gap between the FMR and actual rents that landlords can exploit. With a median home value of 340748, the area reflects a stable housing market, favorable for those looking to invest in property. The renter share at 28.6% shows a significant portion of the population leasing their homes, suggesting steady demand for rental properties. The median income of 97045 provides insight into the financial capabilities of potential tenants, ensuring a pool of qualified applicants. Despite the lack of available days on market (DOM) data, which could indicate how quickly properties are rented out, the price-cut share at 0.3% suggests that landlords rarely need to lower their asking prices, indicating strong market conditions. In conclusion, given the alignment of the FMR with market rents and the low price-cut share, ZIP 08518 presents a solid opportunity for Section 8 participation, offering both stability and potential for profit. Verdict: Accept Section 8 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.