Location: Philadelphia-Camden-Wilmington, PA | Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,130 |
| 1 Bedroom | $2,300 |
| 2 Bedrooms | $2,750 |
| 3 Bedrooms | $3,280 |
| 4 Bedrooms | $3,610 |
| 5 Bedrooms | $4,188 |
| 6 Bedrooms | $4,691 |
| 7 Bedrooms | $5,066 |
| 8 Bedrooms | $5,319 |
U.S. Census Bureau data (2024)
Newtown, PA (ZIP 18940) is positioned within the larger Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA metro area. The Fair Market Rent (FMR) for Newtown in fiscal year 2024 is set at $2,580, closely aligning with the market rent figure of $2,597. This suggests that Newtown is maintaining parity with the broader market expectations in terms of rental pricing.
The median home value in Newtown stands at $734,773, which is indicative of a higher-end housing market compared to many other ZIP codes within the MSA. However, only 14.0% of Newtown's residents are renters, a figure that is notably lower than the average renter share in the Philadelphia-Camden-Wilmington MSA. This points towards Newtown being a predominantly owner-occupied community rather than a rental hotspot.
Given the specific figures, Newtown appears to be a premium sub-market within its metro area. The high median home value and relatively low renter share suggest a preference for homeownership and a market that caters to higher-income individuals looking for quality housing. While the rental market is competitive and priced comparably to the broader MSA, the overall housing landscape leans towards being a more expensive and desirable location for those seeking to purchase homes.
There is no significant divergence between the renter share and the home values that would typically signal a Section 8 sweet spot. In fact, the lower-than-average renter share combined with above-average home values indicates Newtown is less likely to attract large numbers of Section 8 tenants, making it a less favorable location for landlords specifically targeting this program.
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.