Location: Philadelphia-Camden-Wilmington, PA | Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,160 |
| 1 Bedroom | $2,340 |
| 2 Bedrooms | $2,790 |
| 3 Bedrooms | $3,320 |
| 4 Bedrooms | $3,670 |
| 5 Bedrooms | $4,257 |
| 6 Bedrooms | $4,768 |
| 7 Bedrooms | $5,149 |
| 8 Bedrooms | $5,406 |
U.S. Census Bureau data (2024)
ZIP 08641, located within the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA, serves as an ideal cash-flow anchor for a Section 8 portfolio strategy. The Federal Market Rent (FMR) for FY 2024 is set at $2560, which is slightly above the current market rent of $2541. This positive spread ensures that landlords can rely on steady rental income, with the government covering a significant portion of the costs through the Section 8 program.
The lack of data on median home values and price-cut shares indicates that this ZIP code is primarily focused on rental properties rather than homeownership. With a high renter share of 97.6%, it's clear that the majority of residents are tenants, making this area particularly suitable for investment in rental properties. Additionally, the median income of $74,071 suggests that there is a stable economic base supporting the rental market, reducing the risk of default and ensuring a consistent tenant pool.
While the data does not provide specifics on days on market (DOM), the high concentration of renters and the slight premium of FMR over market rents make ZIP 08641 a reliable choice for generating predictable cash flows. Landlords can expect a steady stream of income with minimal vacancy concerns, given the strong demand for rental units in this area. This makes it a solid foundation for any Section 8-focused real estate portfolio.
To summarize, ZIP 08641 is best positioned as a cash-flow anchor within a Section 8 portfolio strategy due to its favorable FMR-market rent spread and high renter share, supported by a stable median income level.
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.