Section 8 Fair Market Rent (FMR) for ZIP 19101 - 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 | $1,380 |
| 1 Bedroom | $1,490 |
| 2 Bedrooms | $1,780 |
| 3 Bedrooms | $2,120 |
| 4 Bedrooms | $2,340 |
| 5 Bedrooms | $2,714 |
| 6 Bedrooms | $3,040 |
| 7 Bedrooms | $3,283 |
| 8 Bedrooms | $3,447 |
To determine if a landlord should buy in ZIP code 19101 for Section 8 purposes, follow this decision tree:
- Does the Fair Market Rent (FMR) of $1640 cover debt service on a property?
- Yes: Proceed to the next question. If the FMR can cover the debt service, it means the rental income from a Section 8 tenant would be sufficient to meet the mortgage payments and other financial obligations associated with owning the property.
- No: Do not buy. The FMR does not provide enough income to meet the financial obligations of the property, making it a risky investment for Section 8 purposes.
- Is the market rent above, at, or below the FMR of $1640?
- Above: It depends. If the market rent is higher than the FMR, then landlords might find it more profitable to rent to non-Section 8 tenants. However, this also indicates that the area is competitive and potentially overpriced for Section 8 tenants.
- At: Yes. This suggests that the market conditions align well with the FMR, making it a suitable location for Section 8 investments.
- Below: Yes. If the market rent is lower than the FMR, then Section 8 properties could be more valuable compared to the local market, providing a good investment opportunity.
- Are the percentage of renters and days on market (DOM) enough to indicate demand?
- N/A% renters + N/A-day DOM: Insufficient data. Without specific percentages and DOM figures, it's impossible to accurately assess the demand for rental properties in this area. Additional research into the local rental market trends and vacancy rates is necessary before making an investment decision.
Note: The analysis is limited by the lack of specific data points such as the percentage of renters and DOM figures, as well as the exact market rent and property value. These details are crucial for a comprehensive assessment and should be obtained to finalize the decision.
Data Sources: FMR data from HUD (2027).
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.