Section 8 Fair Market Rent (FMR) for ZIP 19015 - 2027

Location: Philadelphia-Camden-Wilmington, PA | Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA

Investment Score for ZIP 19015

Monthly Rent (2BR)

$1,530

Median Price (2BR)

$244,922

1% Rule

0.62%

Annual Yield

7.5%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,180
1 Bedroom	$1,280
2 Bedrooms	$1,530
3 Bedrooms	$1,820
4 Bedrooms	$2,010
5 Bedrooms	$2,332
6 Bedrooms	$2,612
7 Bedrooms	$2,821
8 Bedrooms	$2,962

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$1,280	$158,538	0.81%	C
2BR	$1,530	$244,922	0.62%	D
3BR	$1,820	$278,392	0.65%	D
4BR	$2,010	$370,507	0.54%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

16,464

Median Household Income

$82,450

Housing Units

7,144

Renter Percentage

24.8%

Occupancy Rate

95.5%

Renter Occupied

1,688

The economics of Section 8 in ZIP code 19015, which encompasses Brookhaven, PA in Delaware County, revolve around the balance between the SAFMR (Small Area Fair Market Rent) and the local market rent. For a two-bedroom apartment in this ZIP code, the SAFMR for FY 2024 is set at $1600. This figure represents the maximum amount that the housing authority will pay on behalf of a tenant under the Section 8 program. It's important to note that this SAFMR is specific to this ZIP code, meaning it reflects the rental costs particular to the area.

The local market rent, as indicated by ZORI (Zillow Observed Rent Index), is slightly higher at $1764. This suggests that landlords in ZIP 19015 might face a small gap between the market rent and the SAFMR when renting to tenants with Section 8 vouchers.

A landlord should understand that the actual reimbursement from a Section 8 voucher includes several components:

Tenant Portion: The tenant is required to pay 30% of their adjusted income towards rent. If the tenant's adjusted income is $1,600 per month, they would contribute $480 towards the rent.
Housing Authority Payment: The housing authority covers the difference between the tenant's contribution and the SAFMR. In this case, the authority would pay $1,120 ($1,600 - $480).
Utility Allowances: Tenants also receive an allowance for utilities, which can vary. As of FY 2024, the utility allowance for a two-bedroom unit in ZIP 19015 is typically around $200. This allowance is not part of the SAFMR but is paid separately by the housing authority.

To illustrate, if a tenant with an adjusted monthly income of $1,600 rents a two-bedroom apartment, the total reimbursement received by the landlord would be $1,320 ($1,120 for rent plus $200 for utilities). This is below the local market rent of $1,764, leaving a reimbursement gap of $444.

In conclusion, landlords in ZIP 19015 can expect a reimbursement of approximately $1,320 for a two-bedroom unit, considering both the rent and utility allowances. This results in a typical reimbursement gap of $444 compared to the local market rent of $1,764.

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.