Location: Philadelphia-Camden-Wilmington, PA | Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,720 |
| 1 Bedroom | $1,870 |
| 2 Bedrooms | $2,230 |
| 3 Bedrooms | $2,660 |
| 4 Bedrooms | $2,930 |
| 5 Bedrooms | $3,399 |
| 6 Bedrooms | $3,807 |
| 7 Bedrooms | $4,112 |
| 8 Bedrooms | $4,318 |
U.S. Census Bureau data (2024)
1990 is the Fair Market Rent (FMR) for ZIP code 18936, as determined by HUD for fiscal year 2024. This figure represents the maximum amount Section 8 tenants can pay for rent in the area. 368,957 is the median home value in the same ZIP code, indicating the typical cost of homeownership. However, only 13.2% of residents are renters, suggesting a smaller pool of potential Section 8 participants compared to homeowners. The median income stands at 250,001, which is crucial for assessing the financial capability of tenants in the area. While the days on market (DOM) and the percentage of price-cut shares are not available, these missing metrics could imply a stable housing market where properties are either sold quickly or without significant price reductions.
Investors considering Section 8 participation should note that the 1990 FMR limit is significantly lower than the 368,957 median home value. This means that homes priced around the median might not be eligible for Section 8 tenants unless they are willing to accept a lower rental rate. Furthermore, the 250,001 median income suggests that many residents in 18936 may not need the assistance of Section 8 vouchers, potentially limiting demand. The 13.2% renter share also points to a predominantly owner-occupied community, which could mean fewer vacancies and less pressure to offer rental units.
In conclusion, while there are some attractive features of investing in ZIP 18936, such as a high median income and median home value, the relatively low FMR and small renter population make it less favorable for Section 8 landlords. The verdict for Section 8 participation in this ZIP code is not recommended.
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.