Location: Philadelphia-Camden-Wilmington, PA | Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,760 |
| 1 Bedroom | $1,900 |
| 2 Bedrooms | $2,310 |
| 3 Bedrooms | $2,760 |
| 4 Bedrooms | $3,060 |
| 5 Bedrooms | $3,550 |
| 6 Bedrooms | $3,976 |
| 7 Bedrooms | $4,294 |
| 8 Bedrooms | $4,509 |
U.S. Census Bureau data (2024)
The ZIP code 18950 represents a small, exclusive residential area with a total population of just 262 individuals. This neighborhood stands out due to its extremely low percentage of renters at 0.0%, indicating that it is almost entirely composed of homeowners. The median household income in this area is notably high at $225,795, suggesting that residents here have significant financial resources. However, the median home value is not available, which could imply that the housing stock is either very unique or not widely represented in standard real estate databases.
Moving into the realm of rental economics, the Fair Market Rent (FMR) for ZIP 18950 is set at $2,060 for fiscal year 2024. This figure is crucial for Section 8 investors as it dictates the maximum allowable rent for subsidized units. Notably, there is no available data on the market rent for this ZIP code, which might be due to the scarcity of rental properties in an overwhelmingly owner-occupied area. Given the high median income and the absence of renters, it's likely that any rental properties would command a premium above the FMR, although specific market rent figures cannot be cited.
In terms of suitability for investment, ZIP 18950 appears to be a challenging environment for hands-off voucher operators. With virtually no renters, there is limited demand for subsidized housing, making it difficult to find tenants who qualify for Section 8 vouchers. For hands-on value-add buyers, however, there might be opportunities if they can identify and acquire underperforming assets or convert some of the existing homes into rental units. These investors would need to be prepared to actively manage their properties and possibly engage in renovations to attract the few potential renters willing to pay market rates.
Overall, while ZIP 18950 offers a glimpse into a wealthy, owner-occupied community, the lack of rental demand and limited availability of market rent data suggest that it is not a prime location for passive Section 8 investments. Instead, it requires a more strategic, hands-on approach to capitalize on the niche rental market that exists.
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.