Section 8 Fair Market Rent (FMR) for ZIP 19105 - 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 you should buy in ZIP code 19105 for Section 8 investments, follow this decision tree:
- Does FMR $1640 (zip FY 2024) clear debt service on a property?
- If yes: Proceed to the next question.
- If no: Do not invest in this area. The Fair Market Rent (FMR) does not cover the costs necessary to maintain a property.
- Is market rent above, at, or below FMR?
- If market rent is above $1640: There is potential for additional income beyond Section 8 payments. Consider the stability of the market rent before making a decision.
- If market rent is at $1640: This aligns perfectly with the FMR, meaning that you will be able to cover your costs but not generate extra income. It depends on whether you can manage the property efficiently to avoid losses.
- If market rent is below $1640: You might struggle to find tenants willing to pay the FMR, which could lead to vacancies. Do not invest unless you can manage the risk of lower rental rates.
- Are the percentage of renters and days on the market enough demand?
- If the percentage of renters is high and the days on the market (DOM) is low: There is strong demand for rental properties in this area. This supports the viability of a Section 8 investment.
- If the percentage of renters is moderate and DOM is moderate: Demand is present but not overwhelming. It depends on your ability to compete with other rentals and manage the property effectively.
- If the percentage of renters is low and DOM is high: There is insufficient demand for rental properties in this area. Do not invest unless you can attract Section 8 tenants through other means such as marketing or location advantages.
Note: Specific percentages and DOM figures were not provided, so these must be assessed based on local market conditions and comparable data. The key is to ensure that the FMR covers your costs and that there is sufficient demand for rental units in the area.
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.