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 | $1,400 |
| 1 Bedroom | $1,520 |
| 2 Bedrooms | $1,810 |
| 3 Bedrooms | $2,160 |
| 4 Bedrooms | $2,380 |
| 5 Bedrooms | $2,761 |
| 6 Bedrooms | $3,092 |
| 7 Bedrooms | $3,339 |
| 8 Bedrooms | $3,506 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,520 | $269,721 | 0.56% | F |
| 2BR | $1,810 | $283,882 | 0.64% | D |
| 3BR | $2,160 | $330,979 | 0.65% | D |
| 4BR | $2,380 | $335,051 | 0.71% | D |
| 5BR | $2,761 | $334,703 | 0.82% | C |
U.S. Census Bureau data (2024)
The ZIP code 19122 is located in the vibrant Northeast section of Philadelphia, PA. This area is characterized by a diverse and bustling community, with a total population of 25,439 residents. A significant portion, 68.1%, are renters, indicating a high demand for rental properties. The median household income stands at $63,676, which suggests that while not extremely affluent, the neighborhood is economically stable and can support a variety of rental options. The median home value in the area is $302,959, reflecting a mix of affordable and moderately priced housing.
Moving into the specifics of rental economics, the Fair Market Rent (FMR) for ZIP 19122 in fiscal year 2024 is set at $1,550. This is notably lower than the market rent, measured by the Zillow Observed Rental Index (ZORI), which is $1,844. This gap between the FMR and the actual market rent presents an opportunity for investors who can manage properties efficiently and attract tenants willing to pay above the voucher rate.
In terms of investment strategy, ZIP 19122 is well-suited for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the high percentage of renters and the established demand for Section 8 housing make it a reliable choice. However, for those looking to actively improve their properties and potentially command higher rents, there's room to add value given the disparity between FMR and market rates. Investors should be prepared to engage with the local community and understand the nuances of managing properties in a neighborhood where a significant portion of residents rely on rental assistance programs.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.