Location: Philadelphia-Camden-Wilmington, PA | Metro: Harrisburg-Carlisle, PA 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: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,760 | $281,094 | 0.63% | D |
| 3BR | $2,100 | $364,177 | 0.58% | F |
| 4BR | $2,310 | $388,239 | 0.59% | F |
| 5BR | $2,680 | $340,331 | 0.79% | D |
U.S. Census Bureau data (2024)
The rental market in ZIP code 19405, located in Bridgeport, PA, presents a nuanced scenario for both tenants and landlords. The median household income stands at $83,859, which provides insight into the financial capabilities of potential renters. Given the market rate of $1,192 per month, a household earning the median income would spend approximately 17% of their monthly income on rent, assuming a 12-month average income distribution. This is generally considered affordable, as it falls below the recommended threshold of 30% of income.
However, the comparison to the Fair Market Rent (FMR) standard set at $1,760 for the fiscal year 2024 reveals a significant affordability gap. At this FMR level, the median income household would need to allocate nearly 25% of their monthly income towards rent, pushing them closer to the upper limit of affordability. This discrepancy between the market rate and the FMR suggests that many renters might find the higher voucher payment standard challenging, even with the subsidy.
With 54.6% of the population renting, the competition among landlords is considerable. A total of 5,145 people living in the area means there are roughly 2,800 rental units based on the percentage of renters. Landlords must consider the balance between attracting cash-paying tenants who can afford the market rate and those who rely on vouchers to meet the higher FMR.
The takeaway for landlords is clear: understanding the local economic landscape is crucial. While cash-paying tenants offer a more straightforward path to profitability, given the market rate of $1,192, accepting voucher payments can open up a broader pool of potential renters willing to pay the higher FMR of $1760. However, landlords should be prepared for the administrative complexities and lower net income associated with voucher programs. Balancing these considerations will be key to thriving in Bridgeport's competitive rental market.
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.