Location: Philadelphia-Camden-Wilmington, PA | Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,610 |
| 1 Bedroom | $1,750 |
| 2 Bedrooms | $2,090 |
| 3 Bedrooms | $2,490 |
| 4 Bedrooms | $2,740 |
| 5 Bedrooms | $3,178 |
| 6 Bedrooms | $3,559 |
| 7 Bedrooms | $3,844 |
| 8 Bedrooms | $4,036 |
U.S. Census Bureau data (2024)
The ZIP code 19436 is situated in a densely populated urban neighborhood characterized by a high concentration of renters. With a total population of 435, it stands out due to the overwhelming majority of residents—92.9%—who are renters. The median household income in this area is relatively strong at $77,159, suggesting a stable economic environment for potential tenants.
However, the lack of data on median home values indicates that the area might be predominantly rental-focused rather than owner-occupied. This is further supported by the significant disparity between the Fair Market Rent (FMR) and the actual market rent. For the fiscal year 2024, the FMR for ZIP 19436 is set at $1,890, which is notably lower than the Census-reported market rent of $3,501. This discrepancy presents a unique opportunity for investors who can leverage the higher market rents while still attracting tenants through Section 8 vouchers.
Given these economic conditions, ZIP 19436 would suit both hands-off voucher operators and hands-on value-add buyers. Voucher operators can benefit from the high percentage of renters and the stable income levels, ensuring a steady stream of qualified tenants. On the other hand, value-add buyers can capitalize on the difference between FMR and market rent, potentially increasing their cash flow by attracting tenants willing to pay above the voucher amount. Both strategies can be effective, depending on the landlord's investment goals and management capabilities.
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.