Section 8 Fair Market Rent (FMR) for ZIP 19067 - 2027

Investment Score for ZIP 19067

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,570
1 Bedroom	$1,700
2 Bedrooms	$2,030
3 Bedrooms	$2,420
4 Bedrooms	$2,670
5 Bedrooms	$3,097
6 Bedrooms	$3,469
7 Bedrooms	$3,747
8 Bedrooms	$3,934

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$1,700	$254,575	0.67%	D
2BR	$2,030	$420,190	0.48%	F
3BR	$2,420	$519,951	0.47%	F
4BR	$2,670	$810,306	0.33%	F
5BR	$3,097	$951,293	0.33%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 19067 (Morrisville, PA) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 19067, as set by HUD for 2026, is $1960 for a two-bedroom unit. This represents 17.6% of the median household income of $133,630, which is a relatively low percentage compared to national standards. However, the actual rental market in Morrisville is significantly higher. According to Zillow, the median price for a two-bedroom home is $413,414, indicating that the price-to-FMR ratio is approximately 17.6x. This means that the actual rent prices are far above what the FMR suggests, creating a significant gap between what voucher holders can afford and what landlords charge. For voucher holders, this disparity presents several constraints. They must find landlords willing to accept Section 8 vouchers, which often require the rent to be below or equal to the FMR. Given the high actual rental prices, this can be challenging. Additionally, the limited number of units available at or below the FMR can lead to long wait times and fewer options for voucher holders. #### Affordability & Renter Profile With a median household income of $133,630, Morrisville is considered a high-income area. The renter population makes up 22.2% of the total population, which is lower than many urban areas but still substantial. The occupancy rate of 96.6% suggests that the housing market is quite tight, with few vacant units available. This tightness is likely due to the high cost of living and the attractiveness of the area to affluent residents. Given the high median income and the fact that only 17.6% of it goes towards the FMR for a two-bedroom unit, the typical renter in Morrisville is likely to be financially stable and able to afford higher rents. However, the 22.2% of renters who rely on Section 8 vouchers face significant challenges in finding affordable housing. The high price-to-FMR ratio indicates that the market is not particularly friendly to low-income renters, making it difficult for them to secure housing without substantial subsidies. #### Investor Angle From an investor perspective, the ZIP code 19067 offers mixed opportunities. The high median home value and the tight rental market suggest strong demand for housing. However, the FMR is significantly lower than the actual market rent, which could make it challenging to achieve positive cash flow if relying solely on FMR rates. For example, a two-bedroom unit at the FMR of $1960 would be far below the market rate, potentially leading to losses if other costs such as maintenance, property taxes, and insurance are factored in. The investment grade for this ZIP code would depend on the ability to attract tenants who do not rely solely on Section 8 vouchers. Investors might consider targeting a mix of voucher holders and market-rate tenants to balance risk and reward. Additionally, the high occupancy rate suggests that there is a steady demand for rental properties, which could be beneficial for investors looking to minimize vacancy rates. #### Specific Actionable Insights 1. **Target Mixed Tenant Pool**: Investors should aim to attract a mix of Section 8 voucher holders and market-rate tenants. By doing so, they can leverage the high demand for rentals while ensuring that their properties remain occupied and profitable. For instance, a two-bedroom unit priced at $1960 (the FMR) could be rented to a voucher holder, while a three-bedroom unit priced at $2350 could cater to a broader market segment. 2. **Focus on Smaller Units**: Given the high price-to-FMR ratio, smaller units (like one-bedroom or studio apartments) may offer better opportunities for positive cash flow. For example, a one-bedroom unit priced at $1650 (the FMR) might be more feasible for investors to manage profitably compared to larger units. This strategy could help mitigate the financial risks associated with renting exclusively to voucher holders. #### Bottom Line For Section 8-focused investors, ZIP code 19067 presents a challenging environment due to the high actual rental prices and the tight market. While there is a significant demand for housing, the gap between FMR and actual rents makes it difficult to achieve positive cash flow. Therefore, the recommendation is to **Skip** this ZIP code unless investors can diversify their tenant pool beyond just voucher holders. If investors decide to proceed, they should focus on smaller units and be prepared to manage the financial implications of renting at FMR rates in a high-cost area.

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.