Section 8 Fair Market Rent (FMR) for ZIP 12878 - 2027

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$990
1 Bedroom	$1,000
2 Bedrooms	$1,250
3 Bedrooms	$1,620
4 Bedrooms	$1,640
5 Bedrooms	$1,902
6 Bedrooms	$2,130
7 Bedrooms	$2,300
8 Bedrooms	$2,415

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Based on the available data, the Fair Market Rent (FMR) for ZIP 12878 in fiscal year 2024 is set at $1050. However, the market rent for the area is not directly provided, leading us to rely on recent web searches for an estimate. According to a recent search, the typical rent for 2-bedroom units in ZIP 12878 is reported to be between $750 and $999 per month, which suggests that the FMR is above the current market rent.

The gap between the FMR and the market rent is significant. Assuming the highest end of the market rent range ($999), the difference is $51, or approximately 5.4%. This means that landlords participating in the Section 8 program can charge up to $1050 for their units, even if the market rate is lower.

In this context, where the FMR exceeds the market rent, voucher tenants become a lucrative option for landlords. By accepting Section 8 vouchers, landlords can secure a steady stream of rental income at a rate higher than what they might receive from non-voucher tenants. This makes the ZIP 12878 a strong yield play for landlords and small-portfolio investors.

The ZIP 12878 has a population where 15.9% are renters, indicating a moderate demand for rental properties. With a median home value of $235,090 and a median income of $63,657, the financial landscape supports the idea that many residents may benefit from the subsidies offered through the Section 8 program.

Landlords should consider the administrative aspects of managing Section 8 properties, such as the application process and compliance with HUD regulations. Despite these considerations, the opportunity to rent at FMR levels when the market is lower can provide a substantial financial advantage.

To summarize, the gap between the FMR and the market rent in ZIP 12878 makes it a favorable environment for landlords who are willing to participate in the Section 8 program. The higher FMR allows for better yields compared to the open market, especially given the current economic conditions and the demographic makeup of the area.

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.