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 | $1,430 |
| 1 Bedroom | $1,550 |
| 2 Bedrooms | $1,850 |
| 3 Bedrooms | $2,200 |
| 4 Bedrooms | $2,430 |
| 5 Bedrooms | $2,819 |
| 6 Bedrooms | $3,157 |
| 7 Bedrooms | $3,410 |
| 8 Bedrooms | $3,581 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,200 | $423,697 | 0.52% | F |
| 4BR | $2,430 | $460,563 | 0.53% | F |
| 5BR | $2,819 | $559,039 | 0.5% | F |
U.S. Census Bureau data (2024)
ZIP code 19056 is situated within the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA. To understand its position relative to other ZIP codes in the metro, let's analyze the provided figures.
The Fair Market Rent (FMR) for ZIP 19056 in fiscal year 2024 is set at $1780. This figure represents the maximum amount that a low-income household can be expected to pay towards housing costs. The market rent for the same area is slightly higher at $1,897. These numbers suggest that while rents are somewhat above the FMR, they remain relatively competitive within the broader metro area.
The median home value in ZIP 19056 stands at $442,938. This is a key indicator of the overall cost of living and property investment potential in the area. Home values in this ZIP code are indicative of a middle-range neighborhood, neither being among the most expensive nor the least expensive in the Philadelphia-Camden-Wilmington MSA.
A significant metric for landlords and investors is the percentage of renters in the area. In ZIP 19056, the renter share is 29.7%. This figure is noteworthy because it suggests a substantial demand for rental properties, which could be beneficial for landlords looking to capitalize on the rental market.
To determine if ZIP 19056 is a value pocket, a mid-tier neighborhood, or a premium sub-market within its metro, we must consider the interplay between these metrics. Given the median home value and the renter share, ZIP 19056 appears to be a mid-tier neighborhood. It offers rental opportunities that are slightly above the FMR but still within reach for many tenants, and the home value reflects a balanced market where properties are neither overpriced nor undervalued compared to the rest of the MSA.
However, the high renter share combined with below-average home values for the metro area can indicate a potential sweet spot for Section 8 properties. Landlords who can offer affordable housing options within the guidelines of the FMR may find themselves in a favorable position to attract tenants through the Section 8 program.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.