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 | $1,440 |
| 1 Bedroom | $1,560 |
| 2 Bedrooms | $1,860 |
| 3 Bedrooms | $2,220 |
| 4 Bedrooms | $2,440 |
| 5 Bedrooms | $2,830 |
| 6 Bedrooms | $3,170 |
| 7 Bedrooms | $3,424 |
| 8 Bedrooms | $3,595 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,860 | $233,322 | 0.8% | D |
| 3BR | $2,220 | $251,501 | 0.88% | C |
| 4BR | $2,440 | $303,876 | 0.8% | C |
U.S. Census Bureau data (2024)
1640 is the Fair Market Rent (FMR) for ZIP code 19029, Essington, PA, as set for fiscal year 2024. 1351 represents the average market rent for the area, according to Census ACS data, indicating that properties meeting the FMR criteria can command a premium over the local average. 243,998 is the median home value in the region, suggesting a moderate housing market where investment opportunities can be found. 34.3% is the share of renters in Essington, showing a significant portion of the population relies on rental housing, which is beneficial for landlords and small-portfolio investors. 53,451 is the median income in the area, providing insight into the financial capabilities of potential tenants. Despite the lack of specific data on days on market (DOM) and the percentage of price-cut shares, the disparity between the FMR and the average market rent highlights a potential gap that savvy investors can exploit. In Essington, properties priced at the FMR can attract higher-quality tenants who are willing to pay a bit more for their living space. The relatively high renter share suggests ongoing demand for rental units, while the median income figure indicates that most residents can afford the rents set by the FMR. Given these factors, the presence of Section 8 vouchers in the area can serve as a stabilizing force for landlords, ensuring consistent occupancy and reliable rental payments. Therefore, the verdict for Section 8 participation in Essington, PA, is positive, especially for those looking to secure long-term, stable tenancy.
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.