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 | $1,690 |
| 1 Bedroom | $1,830 |
| 2 Bedrooms | $2,180 |
| 3 Bedrooms | $2,600 |
| 4 Bedrooms | $2,870 |
| 5 Bedrooms | $3,329 |
| 6 Bedrooms | $3,728 |
| 7 Bedrooms | $4,026 |
| 8 Bedrooms | $4,227 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,180 | $328,599 | 0.66% | D |
| 3BR | $2,600 | $457,907 | 0.57% | F |
| 4BR | $2,870 | $691,254 | 0.42% | F |
| 5BR | $3,329 | $816,772 | 0.41% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP code 19438, Harleysville, PA, within the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA metro area, does not work favorably for Section 8 participants. The Fair Market Rent (FMR) for fiscal year 2024 is set at $2160, whereas the market rent, as indicated by ZORI, stands at $2044. This means that landlords participating in the Section 8 program would receive slightly higher rents compared to market rates, but the difference is minimal and might not cover additional administrative burdens.
Acquisition of properties in this ZIP code is moderately affordable. With a median home value of $533,246, potential investors can expect a reasonable entry point into the market. However, the lack of data on days on market (DOM) and the low price-cut share of 0.1% suggest that the housing market is stable and not experiencing significant discounts, which could make property acquisition challenging without substantial capital.
Tenant demand is present but limited. The population of Harleysville is 25,438, with 22.7% of residents being renters. While this indicates a steady stream of potential tenants, the relatively small size of the rental market compared to the overall population might limit the pool of eligible Section 8 tenants.
Based on these factors, ZIP code 19438 presents a mixed scenario for Section 8 landlords and small-portfolio investors. Although the rent difference is slight and tenant demand exists, the stable housing market and moderate property values imply that opportunities for profit through property acquisition and rental income may be constrained. Investors should carefully consider their financial situation and market expectations before entering this ZIP code.
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.