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)
48.8% of residents in ZIP 19611 (Reading, PA) are renters, indicating a strong demand for rental properties. With a Fair Market Rent (FMR) of $1240 for zip FY 2024, landlords can set competitive rates that align with government guidelines. The Census ACS reports a market rent of $1,151, showing that properties priced near the FMR are likely to attract tenants. The median home value stands at $231,132, suggesting a moderate property investment environment. However, the median income of $63,331 indicates that many residents may struggle to afford market rents without assistance. The N/A-day DOM (days on market) suggests either rapid turnover or an issue with data reporting, which could imply that properties are quickly rented or sold. The price-cut share is a mere 0.2%, indicating that landlords rarely need to lower their asking prices to attract tenants. This stability in rental pricing is beneficial for long-term investments. Given these factors, Reading, PA, remains a viable location for Section 8 housing programs, with the $1240 FMR providing a solid benchmark for rental rates. The verdict on Section 8 in ZIP 19611 is positive, as it aligns well with the local economic conditions and supports a significant portion of the population.
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.