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 | $1,270 |
| 1 Bedroom | $1,370 |
| 2 Bedrooms | $1,640 |
| 3 Bedrooms | $1,950 |
| 4 Bedrooms | $2,160 |
| 5 Bedrooms | $2,506 |
| 6 Bedrooms | $2,807 |
| 7 Bedrooms | $3,032 |
| 8 Bedrooms | $3,184 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,640 | $237,920 | 0.69% | D |
| 3BR | $1,950 | $237,693 | 0.82% | C |
| 4BR | $2,160 | $303,789 | 0.71% | D |
U.S. Census Bureau data (2024)
The ZIP code 19150 in Philadelphia, PA, has a population of 24,304 residents, with 21.6% being renters. This indicates that while there is a significant portion of renters, it is not a predominantly renter-heavy area. The median household income stands at $66,936, which is an important figure when considering the financial stability of potential tenants.
The market rent in this area is $1,330, representing approximately 19.9% of the median household income. This calculation is derived from dividing the market rent by the median income ($1,330 / $66,936 * 100 = 19.9%). Given that the Fair Market Rent (FMR) for FY 2024 is $1,610, landlords can see that their properties are priced slightly below the average FMR for the region. This suggests that the market rent is competitive and likely to attract a good number of tenants who qualify for housing vouchers.
Landlords in ZIP 19150 should expect tenants who are financially responsible and capable of managing their rental payments. With a significant portion of the population relying on vouchers, landlords will need to be prepared to work with the Housing Choice Voucher Program. Tenants here will likely have a mix of incomes, but those who qualify for vouchers typically earn less than 50% of the area median income. In this case, that would mean earning less than $33,468 annually. However, the presence of these vouchers can help bridge the gap between lower incomes and the actual market rent, ensuring steady and reliable payment.
To summarize, ZIP 19150 is a moderately renter-heavy area with a decent demand for housing vouchers. Landlords should anticipate tenants who are financially stable and willing to comply with the requirements of the voucher program. The market rent is well below the FMR, making it attractive for both voucher holders and non-voucher holders alike. This balance provides a solid foundation for landlords and small-portfolio investors looking to enter or expand in this market.
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.