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 | $1,390 |
| 1 Bedroom | $1,510 |
| 2 Bedrooms | $1,800 |
| 3 Bedrooms | $2,140 |
| 4 Bedrooms | $2,370 |
| 5 Bedrooms | $2,749 |
| 6 Bedrooms | $3,079 |
| 7 Bedrooms | $3,325 |
| 8 Bedrooms | $3,491 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 5BR | $2,749 | $865,816 | 0.32% | F |
U.S. Census Bureau data (2024)
ZIP code 19009 presents a unique scenario for landlords and small-portfolio investors interested in Section 8 tenants. With a population of 1,124, the area has a significant 32.4% of residents who are renters. This indicates a substantial tenant pool, but it's crucial to understand that the median household income here is quite high at $137,188. Given these figures, it's clear that ZIP 19009 is not dominated by homeowners; however, the high income level suggests that traditional Section 8 vouchers might be less common among potential tenants.
The typical market rent in this area stands at $1,593, which consumes approximately 11.6% of the median household income. This percentage reflects a relatively affordable housing situation compared to the overall income levels, indicating that even without vouchers, many residents could afford the rent. However, the Federal Market Rent (FMR) for FY 2024 is set at $1,920 for this ZIP code, which is higher than the current market rent. This discrepancy means that landlords accepting Section 8 vouchers can potentially receive a higher rent subsidy, making it financially viable to accommodate these tenants.
To put this into perspective, if a landlord accepts a Section 8 voucher, they will receive a payment close to the FMR of $1,920, which is above the current market rate. This could serve as an incentive to participate in the program despite the ZIP code's generally affluent environment.
The type of tenant profile landlords in ZIP 19009 should expect is a mix of individuals and families who benefit from Section 8 vouchers due to their lower income relative to the area. These tenants will likely have incomes below the median, seeking subsidized housing options. The high FMR compared to the median income also implies that tenants might come from areas with even lower median incomes, attracted by the relatively lower cost of living in ZIP 19009.
In conclusion, while ZIP 19009 isn't predominantly a renter-heavy area with deep voucher demand, it offers opportunities for landlords through Section 8 participation. The financial benefits, including receiving a rent subsidy closer to the FMR than the actual market rent, make it a favorable option for those willing to navigate the requirements of the program. Landlords should prepare for tenants who are financially supported by the government, ensuring they meet all eligibility criteria and maintain compliance with housing standards.
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.