Location: Reading, PA | Metro: Reading, PA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $980 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,420 |
| 3 Bedrooms | $1,750 |
| 4 Bedrooms | $1,880 |
| 5 Bedrooms | $2,181 |
| 6 Bedrooms | $2,443 |
| 7 Bedrooms | $2,638 |
| 8 Bedrooms | $2,770 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 19536 in fiscal year 2024 is set at $1270. This figure represents the payment standard for landlords participating in the Section 8 Housing Choice Voucher program, which means it's the maximum amount that the government will pay toward a tenant's rent. However, it's important to note that this does not dictate the rent you can charge; it merely sets an upper limit on the subsidy.
To put this into perspective, the median gross rent for ZIP 19536 according to the U.S. Census Bureau's American Community Survey is $975. This indicates that the FMR is significantly higher than the typical rent in the area, offering a potential financial advantage to landlords who meet the eligibility criteria for Section 8.
The demand for rental properties in this area is robust, with 36.0% of households being renters. This high percentage suggests that there is a strong market for rental properties, including those under Section 8. While the acquisition cost for properties in ZIP 19536 is not available, it is crucial to ensure that your property meets all the necessary requirements for participation in the Section 8 program before proceeding.
One critical step before deciding to participate in Section 8 is to verify that your property complies with the Housing Quality Standards (HQS). These standards cover various aspects such as safety, health, and structural integrity, and failing to meet them could disqualify your property from the program. Ensuring HQS compliance is essential to secure the FMR payment and avoid any complications down the line.
In summary, with an FMR of $1270, landlords in ZIP 19536 can benefit financially from the Section 8 program, especially given the local median rent of $975. The significant portion of renters in the area supports the demand for affordable housing options. Before making a decision, landlords must confirm that their property meets the required Housing Quality Standards.
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.