Location: Philadelphia-Camden-Wilmington, PA | Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,210 |
| 1 Bedroom | $1,310 |
| 2 Bedrooms | $1,560 |
| 3 Bedrooms | $1,860 |
| 4 Bedrooms | $2,050 |
| 5 Bedrooms | $2,378 |
| 6 Bedrooms | $2,663 |
| 7 Bedrooms | $2,876 |
| 8 Bedrooms | $3,020 |
U.S. Census Bureau data (2024)
The ZIP code 19457 presents a unique scenario for real estate investors considering the Section 8 program. With a Fair Market Rent (FMR) of $1560 for the fiscal year 2024, there is a clear indication that this area is heavily reliant on government-assisted housing. This reliance is further emphasized by the fact that the percentage of renters in this ZIP code is 0.0%, which is likely a reporting error or an extremely low figure suggesting almost no non-government rental activity.
The lack of data on market rents and home values means we cannot directly compare the FMR to the local private market conditions. However, given the complete dependence on Section 8, it's reasonable to assume that the market rent is either not significantly higher than the FMR or does not exist outside of government subsidies. This makes the ZIP code a candidate for a high-yield market, but with caveats due to the limited data available.
Stability in this ZIP code is difficult to gauge without additional data points such as the average days on market (DOM) and median household income. The absence of these figures suggests a potential challenge in assessing the long-term financial health and demand stability of the rental properties. Typically, a lower DOM and higher median income would indicate a more stable market, but here we have neither of those indicators.
In conclusion, ZIP 19457 leans towards being a high-yield market due to its reliance on Section 8 with a defined FMR of $1560. However, the stability of this market remains uncertain due to the lack of critical data points. For landlords and small-portfolio investors, this could be seen as a potentially lucrative opportunity, but one that requires careful consideration of the broader economic context and the specific challenges of managing Section 8 properties.
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.