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 | $1,550 |
| 1 Bedroom | $1,680 |
| 2 Bedrooms | $2,010 |
| 3 Bedrooms | $2,390 |
| 4 Bedrooms | $2,640 |
| 5 Bedrooms | $3,062 |
| 6 Bedrooms | $3,429 |
| 7 Bedrooms | $3,703 |
| 8 Bedrooms | $3,888 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,390 | $568,058 | 0.42% | F |
| 4BR | $2,640 | $626,516 | 0.42% | F |
| 5BR | $3,062 | $959,668 | 0.32% | F |
U.S. Census Bureau data (2024)
The ZIP code 19031 stands out within its county due to several key demographic and economic indicators. With a population of 4,929 residents, it has a rental rate of 20.2%, indicating a moderate demand for rental properties. The median income in this area is relatively high at $134,592, suggesting that many residents have disposable income. However, the median home value of $595,013 reflects a higher cost of living compared to some other areas.
When analyzing the voucher economics, the Fair Market Rent (FMR) for ZIP 19031 is set at $2,190 for the fiscal year 2024. This is significantly higher than the market rent average of $1,393, based on Census ACS data. Landlords and small-portfolio investors should take note of this discrepancy, as it means that tenants using Section 8 vouchers can potentially afford higher rents, which could be beneficial for property owners looking to maximize their income from rental properties in this ZIP code.
The data signature for ZIP 19031 reads as stable, with a consistent median income and a reasonable rental rate. The gap between the FMR and the actual market rent also suggests that there is room for growth without overpricing the market. For investors, this stability combined with the potential for higher rents through Section 8 vouchers presents an attractive opportunity. It's important to monitor local trends and adjust strategies accordingly to ensure profitability and compliance with housing assistance programs.
Landlords in this ZIP code should consider the following:
Given these figures, landlords can charge closer to the FMR, which is substantially above the market average, making it a favorable position for those who accept Section 8 vouchers. This ZIP code appears to be a solid investment choice for those interested in leveraging the benefits of Section 8 while operating in a stable market environment.
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.