Location: Philadelphia-Camden-Wilmington, PA | Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,350 |
| 1 Bedroom | $1,460 |
| 2 Bedrooms | $1,750 |
| 3 Bedrooms | $2,080 |
| 4 Bedrooms | $2,290 |
| 5 Bedrooms | $2,656 |
| 6 Bedrooms | $2,975 |
| 7 Bedrooms | $3,213 |
| 8 Bedrooms | $3,374 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 19369 in fiscal year 2024 is set at $2000. This figure represents the maximum amount that a landlord can charge for a Section 8 rental property in this area. It's important to note that this is not the actual rent you will receive; it is the payment standard used by the Housing Choice Voucher program to determine the maximum allowable rent.
To put this into perspective, the FMR of $2000 is the benchmark for what is considered reasonable rent for a voucher holder. However, it does not reflect the typical rent levels in the area, which are currently marked as N/A due to lack of recent data. The lack of local rent data makes it challenging to directly compare the FMR to market rates, but it does provide a ceiling for rent that ensures affordability for tenants.
The 24.6% share of renters in ZIP 19369 indicates a significant portion of the population relies on rental housing. This suggests a steady demand for rental properties, particularly those that qualify under the Section 8 program. While the median home value is also listed as N/A, the high renter share implies that there are many individuals who could benefit from a Section 8 rental, making it a viable option for landlords looking to fill vacancies.
Before committing to a Section 8 rental in ZIP 19369, ensure that your property meets all inspection requirements. The Housing Authority conducts thorough inspections to confirm that the property is safe, decent, and sanitary. If your property passes the inspection, you can expect a steady income stream, albeit capped at the FMR of $2000, which is adjusted annually based on changes in the local housing market.
Data Sources: FMR data from HUD (2027). 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.