Location: Philadelphia-Camden-Wilmington, PA | Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA
| 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 |
ZIP code 19480, located within the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA, has a Fair Market Rent (FMR) of $2000 for fiscal year 2024. This figure is critical for landlords and small-portfolio investors as it represents the maximum amount that can be charged for Section 8 housing vouchers in the area.
While specific market rents and home values for ZIP 19480 are not available, we can infer its position within the broader metro area based on the FMR alone. The FMR of $2000 suggests that 19480 is likely a value pocket within the MSA, as the average FMR for the Philadelphia-Camden-Wilmington region tends to be higher, particularly in urban centers where demand is greater.
The lack of data on market rents and home values indicates that there may be limited transactions or reporting in this ZIP code, which could be due to various factors such as lower population density or a predominantly rental market. However, the absence of these figures does not necessarily imply low values; it simply means that the data is insufficient to draw direct comparisons.
The unknown percentage of renter share also makes it difficult to determine if 19480 is a Section 8 sweet spot. Typically, a high renter share with below-average home values in the metro would signal such an area. Since the renter share is not specified, we cannot confirm this pattern for ZIP 19480. Nonetheless, given the FMR figure, it is reasonable to assume that the ZIP code may attract a significant number of voucher holders, making it a viable option for those looking to invest in affordable housing.
In conclusion, based on the available data, ZIP 19480 appears to be a value pocket within the Philadelphia-Camden-Wilmington MSA, offering opportunities for investors who focus on affordable housing solutions. Landlords should consider the potential for Section 8 tenants while also recognizing the limitations of the available data.
Data Sources: FMR data from HUD (2027).
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.