Location: Philadelphia-Camden-Wilmington, PA | Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,540 |
| 1 Bedroom | $1,670 |
| 2 Bedrooms | $1,990 |
| 3 Bedrooms | $2,370 |
| 4 Bedrooms | $2,620 |
| 5 Bedrooms | $3,039 |
| 6 Bedrooms | $3,404 |
| 7 Bedrooms | $3,676 |
| 8 Bedrooms | $3,860 |
U.S. Census Bureau data (2024)
The ZIP code 19017 has a population of 355, with 23.4% of residents being renters. This indicates that it is not a renter-heavy area but rather a homeowner-dominated zone where the availability of Section 8 vouchers is likely to be limited. The median household income in this ZIP code is $166,917, which suggests that the residents have relatively high incomes.
Unfortunately, there is no specific data on market rent for this particular ZIP code. However, we can compare the median household income to the Fair Market Rent (FMR) set at $1950 per month for FY 2024. Given the high median income, typical rent would consume a much smaller percentage of local income compared to the national average, making it easier for tenants to afford higher rents without needing assistance programs like Section 8.
In an area with such a high median income, landlords should expect tenants who are financially stable and capable of paying market rates. These tenants are likely to be professionals or individuals with substantial financial means, reducing the risk of non-payment and improving the overall quality of the rental pool. While Section 8 vouchers might be available, they are unlikely to be the primary source of potential tenants due to the limited number of renters and the higher income levels of the residents.
Data Sources: FMR data from HUD (2027). 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.