Section 8 Fair Market Rent (FMR) for ZIP 19035 - 2027

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

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,960
1 Bedroom	$2,120
2 Bedrooms	$2,530
3 Bedrooms	$3,010
4 Bedrooms	$3,330
5 Bedrooms	$3,863
6 Bedrooms	$4,327
7 Bedrooms	$4,673
8 Bedrooms	$4,907

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

3,937

Median Household Income

$250,001

Housing Units

1,379

Renter Percentage

14.9%

Occupancy Rate

94.9%

Renter Occupied

195

Housing Authorities Serving ZIP 19035

Montgomery County Housing Authority (Norristown, PA) - 3,172 Section 8 vouchers

The ZIP code 19035, located in Haddonfield, New Jersey, is a suburban area known for its excellent schools, safe neighborhoods, and proximity to Philadelphia. This location attracts a diverse range of residents, including young families and professionals looking for a quiet place to live outside the city.

The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 19035 for fiscal year 2024 is set at $2,050. This figure represents the government's benchmark for affordable housing and can influence the rental market dynamics.
The average market rent for properties in this ZIP code, according to the Census American Community Survey (ACS), stands at $3,501. This indicates that the local rental market significantly outpaces the FMR, offering potential higher returns on investment.
The median home value in ZIP 19035 is $1,550,197, reflecting the high cost of homeownership in this affluent area. This high median value suggests strong demand and stability in property values.
Renters make up 14.9% of the population in this ZIP code. While the majority of residents are homeowners, the presence of renters indicates a steady, albeit smaller, rental market segment.
The median household income in ZIP 19035 is $250,001. This robust income level supports the high rents and home values, ensuring that tenants and buyers have the financial capability to sustain these rates.

Synthesizing these points, investing in rental properties in ZIP 19035 presents a solid opportunity due to the strong rental market that surpasses government-set FMRs. The high median income levels suggest a stable tenant base capable of paying premium rents. Although the area has a relatively low renter share, the significant gap between FMR and market rent signals a lucrative niche for landlords and small-portfolio investors who can navigate the regulatory environment of Section 8 effectively. The affluent nature of the ZIP code, with its high median home values, further underpins the overall health and attractiveness of the real estate market here.

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.