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 | $1,350 |
| 1 Bedroom | $1,460 |
| 2 Bedrooms | $1,740 |
| 3 Bedrooms | $2,070 |
| 4 Bedrooms | $2,290 |
| 5 Bedrooms | $2,656 |
| 6 Bedrooms | $2,975 |
| 7 Bedrooms | $3,213 |
| 8 Bedrooms | $3,374 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,740 | $290,265 | 0.6% | F |
| 3BR | $2,070 | $365,177 | 0.57% | F |
| 4BR | $2,290 | $494,317 | 0.46% | F |
| 5BR | $2,656 | $546,274 | 0.49% | F |
U.S. Census Bureau data (2024)
The analysis of the Section 8 program in ZIP code 19014, which encompasses parts of Aston, PA, reveals a significant gap between the Fair Market Rent (FMR) and the actual market rent. The FMR for ZIP 19014 in fiscal year 2024 is set at $1710, while the market rent, represented by ZORI (Zillow Observed Rent Index), stands at $2000. This discrepancy amounts to a $290 difference, translating into a 17% gap between what landlords can charge under the Section 8 program and the prevailing open-market rates.
The FMR being lower than the market rent means that landlords who accept Section 8 vouchers will be renting their properties below the open-market rate. For instance, a landlord could potentially charge $2000 in an open market scenario but is limited to $1710 under the Section 8 guidelines. This situation can impact profitability, especially considering the broader economic context of Aston, PA. With a median home value of $370,238 and a median household income of $96,781, the cost of housing voucher tenants below open-market rates poses a financial challenge. Landlords must weigh the benefits of guaranteed payments from the government against the reduced rental income.
Accepting Section 8 tenants does not necessarily mean a loss, as it can still represent a viable investment strategy. However, the gap highlights the need for landlords to carefully consider their costs and potential returns. Given the relatively low percentage of renters in the area—only 11.5%—the competition for tenants willing to pay the market rate can be intense. Therefore, the decision to participate in the Section 8 program should be based on a thorough understanding of the local market dynamics and the financial implications of renting below market rates.
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.