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 | $1,970 |
| 1 Bedroom | $2,140 |
| 2 Bedrooms | $2,550 |
| 3 Bedrooms | $3,040 |
| 4 Bedrooms | $3,350 |
| 5 Bedrooms | $3,886 |
| 6 Bedrooms | $4,352 |
| 7 Bedrooms | $4,700 |
| 8 Bedrooms | $4,935 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,140 | $272,557 | 0.79% | D |
| 2BR | $2,550 | $387,816 | 0.66% | D |
| 3BR | $3,040 | $492,633 | 0.62% | D |
| 4BR | $3,350 | $650,903 | 0.51% | F |
| 5BR | $3,886 | $625,730 | 0.62% | D |
U.S. Census Bureau data (2024)
The median income in ZIP 19428, Conshohocken, PA, stands at $122,835. This figure provides a benchmark for evaluating the affordability of housing in the area. The market rate rent, known as the Zillow Observed Rent Index (ZORI), is $2,374 per month. Comparatively, the Fair Market Rent (FMR) set by the Department of Housing and Urban Development (HUD) for the fiscal year 2024 is $2,230.
To frame this from the renter's perspective, consider that nearly half of the residents—47.0%—are renters. With a total population of 20,411, this translates to approximately 9,600 individuals who are actively seeking rental properties. Given the median income, the average household could feasibly cover the ZORI of $2,374. However, the FMR of $2,230 represents the maximum amount that a household participating in the Section 8 program would be expected to pay towards their rent, with the remainder subsidized by the government.
The affordability gap between the ZORI and the FMR is $144 per month. This means that landlords accepting Section 8 vouchers must be willing to accept a lower rent than the market rate, which could impact profitability. On the other hand, the competition among landlords for tenants paying the ZORI is likely high given the significant portion of the population that rents.
For landlords considering their strategy regarding voucher versus cash-pay tenants, the decision hinges on balancing the desire for higher monthly income against the stability and guaranteed payment from voucher programs. While cash-paying tenants offer a higher monthly income, they come with the risk of vacancy and non-payment. Voucher tenants provide a more predictable income stream, albeit slightly below market rates.
In summary, landlords in Conshohocken, PA, must weigh the benefits of market-rate rents against the security and reliability of Section 8 vouchers. The choice should be informed by the landlord's tolerance for risk and the local competition for tenants.
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.