Location: Philadelphia-Camden-Wilmington, PA | Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,590 |
| 1 Bedroom | $1,730 |
| 2 Bedrooms | $2,060 |
| 3 Bedrooms | $2,450 |
| 4 Bedrooms | $2,710 |
| 5 Bedrooms | $3,144 |
| 6 Bedrooms | $3,521 |
| 7 Bedrooms | $3,803 |
| 8 Bedrooms | $3,993 |
ZIP code 19486, located within the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA, has a Fair Market Rent (FMR) of $1920 for fiscal year 2024. This figure is critical for understanding the rental dynamics in the area, especially for landlords and small-portfolio investors involved with Section 8 housing.
The FMR of $1920 in ZIP 19486 is lower than the typical FMR found in many other ZIP codes within the broader Philadelphia metro area. For instance, the average FMR across the entire MSA is generally higher, reflecting the diverse economic conditions and housing markets within the region. The absence of specific market rent and home value data for ZIP 19486 suggests that it may be a less developed or less documented area within the larger metro.
In the context of the Philadelphia-Camden-Wilmington MSA, ZIP 19486 appears to be a value pocket. Its relatively low FMR indicates that it could attract tenants who are seeking affordable housing options. However, the lack of data on market rent and home values means that direct comparisons to other ZIP codes within the MSA are limited. Nonetheless, the lower FMR does suggest a potentially more budget-friendly neighborhood compared to others in the metro area.
The unknown percentage of renters in ZIP 19486 prevents a definitive conclusion about its attractiveness to Section 8 participants. Typically, a high renter share combined with below-average home values can indicate a prime location for Section 8 properties. Since the renter share is not provided, we cannot conclusively state if this ZIP code represents a sweet spot for Section 8 investments. However, the low FMR alone makes it a noteworthy consideration for those looking to enter the more affordable segments of the Philadelphia metro real estate market.
To make a fully informed decision, landlords and investors should seek additional local market data, including recent trends in rental demand and property values in ZIP 19486. This will provide a clearer picture of the neighborhood's potential as either a value pocket or a mid-tier neighborhood within the Philadelphia-Camden-Wilmington MSA.
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.