Location: Philadelphia-Camden-Wilmington, PA | Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,590 |
| 1 Bedroom | $1,730 |
| 2 Bedrooms | $2,060 |
| 3 Bedrooms | $2,450 |
| 4 Bedrooms | $2,710 |
| 5 Bedrooms | $3,144 |
| 6 Bedrooms | $3,521 |
| 7 Bedrooms | $3,803 |
| 8 Bedrooms | $3,993 |
Eagleville, PA, located in ZIP code 19408, is a thriving suburban community with a total population of 49,408 residents. It has a working-class earning profile, with a median household income of $54,408, which is 18.9% higher than it was five years ago. The median home value stands at $234,824, reflecting a moderate housing market that has seen a 22.2% increase over the past five years.
In terms of rent economics, the Fair Market Rent (FMR) for ZIP code 19408 in fiscal year 2024 is set at $1,920. However, the actual median rent in the area is $1,511, which is 31.0% higher than it was five years ago. This indicates that while there is a discrepancy between the FMR and the market rent, the latter still remains relatively stable and reasonable.
The decision to invest in Eagleville, PA, as a hands-off voucher operator or a hands-on value-add buyer depends on the investor's strategy. For a hands-off operator, the FMR provides a predictable revenue stream, ensuring that tenants can afford their rent through government assistance. On the other hand, a hands-on value-add buyer might find opportunities to improve properties and command rents closer to the FMR, given the area’s growing median rent and modest cost of living.
Note: Some data points were not directly available; thus, the analysis is based on the most recent and relevant information provided.
Data Sources: FMR data from HUD (2027).
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.