Location: Reading, PA | Metro: Reading, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,130 |
| 1 Bedroom | $1,280 |
| 2 Bedrooms | $1,640 |
| 3 Bedrooms | $2,010 |
| 4 Bedrooms | $2,170 |
| 5 Bedrooms | $2,517 |
| 6 Bedrooms | $2,819 |
| 7 Bedrooms | $3,045 |
| 8 Bedrooms | $3,197 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 19535 in fiscal year 2024 is set at $1500. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program, which is a federal housing assistance program. It's important to note that this is not the actual rent you will receive; rather, it is the ceiling on the rent you can charge. The actual rent you receive will be based on the tenant's income and other factors.
To understand the implications of this FMR, consider the local market conditions. While specific local median rents are not available for comparison, the FMR serves as a benchmark. Given that the FMR is established at $1500, this suggests that the average market rent in your area is likely higher, making Section 8 properties potentially less profitable but still viable for certain investors.
The demand for Section 8 rentals in ZIP 19535 can be gauged by the percentage of renters who might qualify for the program. With a 100.0% share indicating that all renters could potentially qualify, there is a strong likelihood of finding tenants. However, the success of acquiring a property suitable for Section 8 depends on the acquisition costs. Since specific acquisition costs are not provided, focus on ensuring that the property meets the Housing Quality Standards (HQS) required by the program. These standards cover safety, health, and structural issues that must be addressed before the property can be approved for Section 8 tenancy.
Before committing to a Section 8 rental, verify that the property complies with the HQS. This includes checking for issues such as lead paint, electrical problems, pest infestations, and general maintenance concerns. Compliance ensures eligibility and avoids costly delays in the approval process.
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.