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 | $1,800 |
| 1 Bedroom | $1,950 |
| 2 Bedrooms | $2,330 |
| 3 Bedrooms | $2,780 |
| 4 Bedrooms | $3,060 |
| 5 Bedrooms | $3,550 |
| 6 Bedrooms | $3,976 |
| 7 Bedrooms | $4,294 |
| 8 Bedrooms | $4,509 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,950 | $209,056 | 0.93% | C |
| 2BR | $2,330 | $310,040 | 0.75% | D |
| 3BR | $2,780 | $495,824 | 0.56% | F |
| 4BR | $3,060 | $644,527 | 0.47% | F |
| 5BR | $3,550 | $730,586 | 0.49% | F |
U.S. Census Bureau data (2024)
The ZIP code 19462, located in Plymouth Meeting, PA, has a population of 16,331, with 25.7% being renters. This indicates that while there is a significant portion of the population renting, it is not a renter-heavy area dominated by deep voucher demand. Instead, it leans towards being a homeowner-dominated area where vouchers are less common.
The median household income in this ZIP code is $137,535, which places residents in a relatively high-income bracket. The market rent for the area is $2,169, representing approximately 15.7% of the median household income. This suggests that typical rent is affordable for most residents, taking a reasonable share of their income without causing undue financial strain.
Comparing the market rent to the Fair Market Rent (FMR) of $2,300 for FY 2024, we see that the actual market rent is slightly below the FMR. This implies that landlords can potentially charge closer to the FMR if they offer well-maintained properties with desirable amenities, thus maximizing their rental income.
A landlord in ZIP 19462 should expect tenants who are financially stable and capable of paying rent without relying heavily on housing vouchers. The tenant profile will likely consist of individuals and families with good credit scores and employment histories, reflecting the higher average income levels in the area. Landlords can set competitive rents around the FMR of $2,300, knowing that many potential tenants have the means to pay these rates.
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.