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 | $1,360 |
| 1 Bedroom | $1,470 |
| 2 Bedrooms | $1,760 |
| 3 Bedrooms | $2,100 |
| 4 Bedrooms | $2,310 |
| 5 Bedrooms | $2,680 |
| 6 Bedrooms | $3,002 |
| 7 Bedrooms | $3,242 |
| 8 Bedrooms | $3,404 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,760 | $372,127 | 0.47% | F |
| 3BR | $2,100 | $522,182 | 0.4% | F |
| 4BR | $2,310 | $785,916 | 0.29% | F |
| 5BR | $2,680 | $1,143,226 | 0.23% | F |
U.S. Census Bureau data (2024)
The ZIP code 19348, located in Kennett Square, Pennsylvania, hosts a population of 23,621 individuals. With 28.8% of residents being renters, this area leans towards a moderate renter-heavy community rather than a homeowner-dominated one. However, the percentage of renters does suggest there could be a reasonable demand for rental properties, including those that accept Section 8 vouchers.
The median household income in this ZIP is notably high at $123,526, which contrasts sharply with the average market rent of $2,341 per month. This implies that the typical rent consumes only about 22.6% of the local median income, making it relatively affordable for most residents. The Fair Market Rent (FMR) for the area, set at $1,610 per month for FY 2024, is significantly lower than the market rent, indicating that landlords who wish to participate in the Section 8 program must adjust their expectations accordingly.
To determine the exact impact on potential tenants, we can calculate the percentage of income required for the FMR. At $1610, the FMR represents approximately 13.0% of the median household income. This suggests that tenants utilizing Section 8 vouchers would have a substantial portion of their income available for other living expenses, which is beneficial for maintaining stable tenancy.
A landlord in ZIP 19348 should anticipate a tenant pool that includes a mix of individuals and families who rely on Section 8 vouchers for housing assistance. These tenants will likely be employed or have a steady source of income, such as Social Security or disability benefits, given the eligibility requirements for the program. Landlords must ensure their properties meet the quality standards set by the Housing Quality Standards (HQS) and be prepared to work within the payment structure defined by the FMR.
In summary, while Kennett Square has a healthy renter base, the high median income and relatively low FMR indicate that landlords might face competition for tenants willing to pay the higher market rent. Engaging with the Section 8 program requires an understanding of the financial parameters but offers a pathway to a stable tenant demographic.
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.