Location: Philadelphia-Camden-Wilmington, PA | Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,140 |
| 1 Bedroom | $2,310 |
| 2 Bedrooms | $2,760 |
| 3 Bedrooms | $3,290 |
| 4 Bedrooms | $3,630 |
| 5 Bedrooms | $4,211 |
| 6 Bedrooms | $4,716 |
| 7 Bedrooms | $5,093 |
| 8 Bedrooms | $5,348 |
U.S. Census Bureau data (2024)
48.9% of residents in ZIP 18980 are renters, indicating a strong demand for rental properties in the area. $1680 is the Fair Market Rent (FMR) for the zip code as of fiscal year 2024, which is the benchmark used by the government for determining rental assistance payments under the Section 8 program. Although the market rent for ZIP 18980 is listed as N/A, the high percentage of renters suggests that there is a significant population relying on affordable housing options. The median income of $145,278 provides insight into the economic status of the area's residents, but it does not directly correlate to the affordability of rental units for lower-income families who might seek Section 8 assistance.
N/A-day DOM (Days on Market) and N/A% price-cut share indicate that there is limited data available on the real estate transactions in ZIP 18980, making it challenging to assess the typical selling process and price adjustments for homes in the area. However, the absence of these figures does not necessarily imply a lack of activity or interest in the market. Instead, it highlights the importance of focusing on rental metrics when evaluating investment opportunities in ZIP 18980.
The high renter share of 48.9% combined with the established FMR of $1680 positions ZIP 18980 favorably for landlords and small-portfolio investors interested in the Section 8 program. Given the median income of $145,278, there is likely a diverse range of income levels among the residents, creating a potential pool of tenants eligible for rental assistance. Landlords can confidently set their rents at or below the FMR to attract tenants through the Section 8 program, ensuring stable occupancy and predictable cash flows.
Based on the available data, ZIP 18980 presents a solid opportunity for Section 8 investments, supported by a robust rental market and clear guidelines for fair market rates.
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.