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 |
ZIP code 18979, located in Unknown, PA, falls within the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA. The Fair Market Rent (FMR) for ZIP 18979 is set at $1920 for fiscal year 2024. This figure provides insight into the rental market dynamics of the area compared to other ZIP codes within the larger metro region.
In the Philadelphia-Camden-Wilmington MSA, typical ZIP codes have a wide range of market rents, home values, and renter shares, but specific data for comparison is currently unavailable. However, given that the FMR for ZIP 18979 is $1920, it suggests that this ZIP code might be considered a mid-tier neighborhood within its metro. The FMR is often lower than the market rent, indicating that ZIP 18979 could offer rental properties at a price point that is somewhat competitive yet not at the very bottom or top of the market spectrum.
The lack of data on market rent and home values for ZIP 18979 means we cannot definitively classify it as a value pocket or a premium sub-market based solely on those metrics. However, the absence of a significant renter share percentage suggests that the proportion of renters in the area is either typical or not heavily skewed towards renters, which is important for understanding the demand for rental properties.
While the FMR alone does not provide a complete picture, it does indicate that there is a segment of the market where rents are subsidized to ensure affordability. This can be a key consideration for landlords and small-portfolio investors who might be interested in the Section 8 housing choice voucher program. If the actual market rent in ZIP 18979 were significantly higher than the FMR, it would suggest that the area could be attractive for Section 8 tenants looking for affordable housing options.
To determine if ZIP 18979 is a sweet spot for Section 8 investments, more detailed data on the local rental market and home values would be necessary. Investors should consider conducting further research to understand the local real estate trends and the specific needs of potential tenants in the 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.