Location: Philadelphia-Camden-Wilmington, PA | Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,780 |
| 1 Bedroom | $1,930 |
| 2 Bedrooms | $2,300 |
| 3 Bedrooms | $2,740 |
| 4 Bedrooms | $3,020 |
| 5 Bedrooms | $3,503 |
| 6 Bedrooms | $3,923 |
| 7 Bedrooms | $4,237 |
| 8 Bedrooms | $4,449 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,930 | $186,275 | 1.04% | B |
| 2BR | $2,300 | $376,645 | 0.61% | D |
| 3BR | $2,740 | $604,132 | 0.45% | F |
| 4BR | $3,020 | $930,978 | 0.32% | F |
| 5BR | $3,503 | $1,098,808 | 0.32% | F |
U.S. Census Bureau data (2024)
The ZIP code 19004, located in Bala-Cynwyd, PA, is home to 11,230 residents, with 28.1% of them being renters. This indicates that the area has a moderate renter population but leans towards being homeowner-dominated. The median household income in this ZIP is a robust $149,232, which places it in a high-income bracket compared to national averages.
The typical market rent for properties in this area is $2,155 per month. Given the median income, this means that the average rent consumes approximately 14.4% of the monthly income when calculated as a proportion of the annual income. This percentage is relatively low, suggesting that most tenants can afford the rent without significant financial strain.
Comparing the market rent to the Fair Market Rent (FMR) set at $2,290 for fiscal year 2024, we see that the market rent is slightly below the FMR. This could indicate that landlords might have some flexibility in pricing, but they should be mindful of the competition and the actual rental values in the area.
In terms of voucher demand, the percentage of renters in ZIP 19004 suggests that while there is a presence of Section 8 vouchers, it is not an area characterized by deep voucher demand. Landlords should prepare for a mix of tenants, including those who may use vouchers, though the majority are likely to be paying market rates.
The kind of tenant profile landlords in this ZIP should expect includes individuals and families who are financially stable and capable of meeting their housing costs. While there will be some voucher holders, the higher median income supports a tenant base that can afford the $2,155 market rent. Landlords should ensure compliance with HUD regulations for voucher tenants while also leveraging the strong local economy to attract non-voucher tenants willing to pay closer to the FMR.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.