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 | $1,610 |
| 1 Bedroom | $1,740 |
| 2 Bedrooms | $2,080 |
| 3 Bedrooms | $2,480 |
| 4 Bedrooms | $2,730 |
| 5 Bedrooms | $3,167 |
| 6 Bedrooms | $3,547 |
| 7 Bedrooms | $3,831 |
| 8 Bedrooms | $4,023 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,080 | $407,835 | 0.51% | F |
| 3BR | $2,480 | $540,698 | 0.46% | F |
| 4BR | $2,730 | $716,290 | 0.38% | F |
| 5BR | $3,167 | $797,985 | 0.4% | F |
U.S. Census Bureau data (2024)
The median income in Broomall, PA (ZIP 19008) stands at $119,698, providing a robust financial backdrop for potential renters. However, the market rate for rent, which is $1,654 according to the Census American Community Survey (ACS), poses a significant challenge for households to comfortably cover their housing costs. This figure represents approximately 18% of the median annual income, assuming a standard guideline that housing expenses should not exceed 30% of a household's income.
Comparatively, the Fair Market Rent (FMR) set by the U.S. Department of Housing and Urban Development (HUD) for zip code 19008 in fiscal year 2024 is $1,940. This amount is higher than the current market rate, indicating that the government sets a benchmark that is somewhat above what the average rental property is currently priced at. The difference between the market rate and the FMR suggests a level of subsidy available to renters who qualify for housing vouchers, effectively making rental properties more affordable to those receiving assistance.
Given that only 15.7% of the 20,697 population are renters, competition among landlords for tenants is relatively low. However, the affordability gap, represented by the discrepancy between the median income and the cost of rent, could influence the dynamics of tenant acquisition. Landlords might find themselves competing more on price and amenities rather than sheer availability of units.
For landlords considering voucher versus cash-pay strategies, the data points to a mixed landscape. While voucher recipients benefit from additional financial support, landlords must navigate the administrative requirements and sometimes slower payment processes associated with voucher programs. On the other hand, cash-paying tenants offer the simplicity and speed of direct payments but may be fewer in number due to the higher rent they must afford out-of-pocket. Landlords should weigh these factors carefully, considering both the stability of cash-paying tenants and the broader accessibility offered by accepting vouchers.
In conclusion, landlords in Broomall have the opportunity to serve a mix of cash-paying and voucher-supported tenants. The decision to accept vouchers can open up the rental market to a wider pool of potential residents, thereby reducing vacancy rates and increasing the diversity of the tenant base. However, the choice should also consider the operational efficiency and preferences of the landlord.
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.