Section 8 Fair Market Rent (FMR) for ZIP 19482 - 2027
Location: Philadelphia-Camden-Wilmington, PA | Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA
FY 2027 Fair Market Rent Rates
| 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 |
To determine if you should buy in ZIP code 19482 for Section 8 purposes, follow this decision tree:
- 1) Does the Fair Market Rent (FMR) of $2000 cover the debt service on a property?
- Yes: If your debt service is less than $2000 per month, then the FMR will cover it. This makes the property financially viable under Section 8.
- No: If your debt service exceeds $2000, then the FMR does not sufficiently cover costs, making this ZIP code less attractive for Section 8 investments.
- 2) How does the market rent compare to the FMR?
- Above FMR: If the average market rent is higher than $2000, you might consider renting to non-Section 8 tenants to maximize income. However, this also means fewer tenants qualify for Section 8 vouchers.
- At FMR: If the average market rent matches the FMR, the property can be easily rented out under Section 8 without financial strain.
- Below FMR: If the average market rent is lower than $2000, the property may still be viable for Section 8 but could also attract non-voucher tenants looking for affordable housing.
- 3) Is there sufficient demand based on the percentage of renters and days on market (DOM)?
- N/A% Renters + N/A-day DOM: Without specific percentages and DOM figures, it's challenging to assess demand accurately. However, generally, a higher percentage of renters and shorter DOM indicate strong demand, which is favorable for Section 8 properties.
Note: The decision to invest in ZIP 19482 for Section 8 purposes hinges on these factors. Ensure that the FMR covers your expenses, evaluate the market rent against the FMR, and assess the local rental demand. Without precise data on market rent, renters' percentages, and DOM, the final recommendation is inconclusive. Consult local real estate agents or use specialized tools to gather these specifics before making an investment decision.
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.