Location: Philadelphia-Camden-Wilmington, PA | Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,710 |
| 1 Bedroom | $1,850 |
| 2 Bedrooms | $2,210 |
| 3 Bedrooms | $2,630 |
| 4 Bedrooms | $2,900 |
| 5 Bedrooms | $3,364 |
| 6 Bedrooms | $3,768 |
| 7 Bedrooms | $4,069 |
| 8 Bedrooms | $4,272 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 19490 within the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA reveals several critical points for real-estate investors considering Section 8 properties.
Regarding the rent math, the Fair Market Rent (FMR) set at $1920 for fiscal year 2024 does not provide a direct comparison due to the absence of current market rent data. However, landlords should be aware that the FMR serves as a benchmark for rental assistance payments, and properties must meet certain criteria to qualify for these rates.
On the question of acquisition affordability, the lack of specific data on median home values, days on market (DOM), and the percentage of price-cut shares makes it challenging to offer a definitive assessment. Landlords and investors would need to conduct further research to determine if the purchase prices align with their investment strategies.
When evaluating tenant demand, the numbers are stark. With a population of 507 and a 0.0% renter share, there is virtually no demand for rental properties in this ZIP code. This indicates that finding tenants who qualify for Section 8 housing could be extremely difficult, if not impossible.
In conclusion, while the FMR of $1920 offers a clear target for rental assistance payments, the absence of market rent data complicates the rent math evaluation. Acquisition costs cannot be assessed without specific information on home values, DOM, and price-cut shares. Most critically, the near-zero tenant demand makes investing in rental properties in ZIP 19490 highly unadvisable for Section 8-focused landlords and small-portfolio investors. The combination of low population and zero renter share suggests a market that is not viable for such investments.
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.