Location: Philadelphia-Camden-Wilmington, PA | Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,590 |
| 1 Bedroom | $1,730 |
| 2 Bedrooms | $2,060 |
| 3 Bedrooms | $2,450 |
| 4 Bedrooms | $2,710 |
| 5 Bedrooms | $3,144 |
| 6 Bedrooms | $3,521 |
| 7 Bedrooms | $3,803 |
| 8 Bedrooms | $3,993 |
The analysis of ZIP code 18084 in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA metro reveals several key points that are crucial for landlords and small-portfolio investors.
Regarding the rent math, the Fair Market Rent (FMR) for ZIP 18084 in fiscal year 2024 is set at $1920. However, without specific data on the market rent for the area, it's challenging to determine if this figure aligns with what tenants are willing to pay. This uncertainty can pose a risk as landlords need to ensure their rental income covers costs and generates profit.
In terms of acquisition affordability, the lack of detailed information on the median home value, days on market (DOM), and the percentage of homes that have been subject to price cuts makes it difficult to assess the ease or difficulty of buying properties in this ZIP code. Landlords should seek out more localized real estate data to make informed decisions about property purchases.
Tenant demand is another critical factor. With no specific population data or percentage of renters available, it's unclear how many potential tenants might be in the area. A high renter share typically indicates strong demand for rental properties, but the absence of these figures means investors cannot accurately gauge the market's appetite for rentals.
Verdict: ZIP 18084 presents an investment scenario where critical data points such as market rent, median home value, days on market, price cut percentages, population, and renter share are unavailable. Without these specifics, it's impossible to definitively conclude whether the rent math works, if acquisitions are affordable, or if there is robust tenant demand. Investors must conduct thorough local research to fill these data gaps before making any investment decisions in this area.
Data Sources: FMR data from HUD (2027).
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.