Section 8 Fair Market Rent (FMR) for ZIP 19112 - 2027

FY 2027 Fair Market Rent Rates

1640 is the Fair Market Rent (FMR) for ZIP code 19112 as of fiscal year 2024. This figure represents the maximum amount landlords can charge for a Section 8 rental unit in this area. Despite the N/A market rent indicating incomplete data, the FMR serves as a reliable benchmark for rental pricing. The median home value being N/A suggests limited information on property values, but it does not impact the decision-making process for rental units under the Section 8 program. With a N/A% renter share, we cannot determine the exact proportion of renters in the area, yet the presence of the Section 8 program indicates a demand for affordable housing. The median income also comes up as N/A, which means there's no specific data point to consider when assessing the financial stability of potential tenants. A N/A-day DOM (Days On Market) implies that there is no recent data available on how long properties typically stay on the market before being rented out. Similarly, the N/A% price-cut share suggests an absence of data on how often landlords need to reduce their asking prices to attract tenants. Given the specific $1640 FMR for ZIP 19112, landlords should ensure that their rental units meet the quality standards set by the Housing Quality Standards (HQS) to qualify for the program. This ensures that the landlord receives the full subsidy amount without the risk of having to lower the rent below the FMR. Additionally, landlords must verify that the unit is not located in an excluded area such as flood zones or areas with high environmental risks. The lack of detailed market data makes it challenging to predict competition and occupancy rates, but the consistent demand for affordable housing and the federal backing of Section 8 subsidies provide a stable investment opportunity. For small-portfolio investors, the FMR acts as a ceiling for rental charges, guiding pricing strategies and helping to manage expectations regarding rental income. In conclusion, for ZIP 19112, participation in the Section 8 program is viable, offering a steady income stream tied to the $1640 FMR.

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.