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 19604, which includes Reading, PA, is set at $1250 for the fiscal year 2024. This figure represents the maximum amount that a landlord can receive through the Section 8 Housing Choice Voucher program for a given unit. It's important to note that this is not the actual rent you'll charge your tenants; it's the reimbursement limit from the government.
In contrast, the local Zillow Observed Rent Index (ZORI), which reflects the average rent price for similar properties in the area, stands at $1373. This suggests that if you're considering a Section 8 property, you might need to accept a slightly lower rent compared to market rates. However, the stability and guaranteed income from the government can offset this difference.
Reading has a significant demand for rental properties, with 51.0% of its residents being renters. This high percentage indicates a robust market for rentals, which is beneficial for landlords looking to ensure occupancy and steady cash flow.
If you're interested in purchasing a property in Reading for Section 8 use, the median home value gives you an idea of the acquisition cost. The median home value in ZIP 19604 is around $167,512. This figure should be considered when evaluating the potential return on investment for a Section 8 property.
Before making the decision to enter into a Section 8 rental agreement, one critical factor to verify is the physical condition of the property. The government requires properties participating in the Section 8 program to meet certain standards known as the Housing Quality Standards (HQS). Ensuring your property meets these standards before applying will save you time and prevent potential rejections.
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.