Section 8 Fair Market Rent (FMR) for ZIP 19312 - 2027

Location: Philadelphia-Camden-Wilmington, PA | Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA

Investment Score for ZIP 19312

Monthly Rent (2BR)

$2,330

Median Price (2BR)

$609,145

1% Rule

0.38%

Annual Yield

4.59%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,800
1 Bedroom	$1,950
2 Bedrooms	$2,330
3 Bedrooms	$2,780
4 Bedrooms	$3,060
5 Bedrooms	$3,550
6 Bedrooms	$3,976
7 Bedrooms	$4,294
8 Bedrooms	$4,509

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$2,330	$609,145	0.38%	F
3BR	$2,780	$730,078	0.38%	F
4BR	$3,060	$1,103,706	0.28%	F
5BR	$3,550	$1,639,012	0.22%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

12,283

Median Household Income

$204,384

Housing Units

4,737

Renter Percentage

12.9%

Occupancy Rate

93.9%

Renter Occupied

572

To determine if a landlord should invest in ZIP 19312 (Berwyn, PA) for Section 8 properties, follow this decision tree:

1) Does FMR $2280 (zip FY 2024) clear debt service on a $969,783 property?

No: The Fair Market Rent (FMR) of $2280 does not cover the debt service on a property valued at $969,783. This makes the investment unfeasible without additional subsidies or income sources.

2) Is market rent $2,410 (ZORI) above, at, or below FMR?

Above: The Zillow Observed Rental Index (ZORI) indicates that market rents are at $2,410, which is above the FMR of $2280. This suggests that non-Section 8 tenants might be available at higher rates, but the primary focus on Section 8 must still consider the lower FMR.

3) Are 12.9% renters + N/A-day DOM enough demand?

It Depends: With 12.9% of the population being renters, there is a notable rental market presence. However, the lack of data on days on market (DOM) makes it challenging to assess the speed at which units are rented. If the high percentage of renters translates into a robust demand for Section 8 properties, then the answer would lean towards yes. Conversely, if there is a significant lag in renting out units, the answer would be no.

The decision to purchase in ZIP 19312 hinges on the alignment between FMR and debt service requirements. Since the FMR does not cover the debt service, the primary consideration should be whether supplementary income can make up the difference. Additionally, the market rent being above FMR provides an opportunity for diversification beyond Section 8 tenants, though this does not directly address the feasibility of Section 8 investments. Lastly, the rental demand is present, but the absence of DOM data leaves uncertainty about the speed and ease of renting units, impacting cash flow and investment return timelines.

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.