Location: Philadelphia-Camden-Wilmington, PA | Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,560 |
| 1 Bedroom | $1,690 |
| 2 Bedrooms | $2,020 |
| 3 Bedrooms | $2,410 |
| 4 Bedrooms | $2,650 |
| 5 Bedrooms | $3,074 |
| 6 Bedrooms | $3,443 |
| 7 Bedrooms | $3,718 |
| 8 Bedrooms | $3,904 |
U.S. Census Bureau data (2024)
The classification of ZIP code 19731 hinges on its financial metrics: Fair Market Rent (FMR), home values, renter population percentage, and median income. With an FMR of $1910 for fiscal year 2024 and a median home value of $275,095, the yield potential is moderate. The FMR indicates that landlords can expect a rental income close to this figure per unit, which is lower than the typical mortgage payment based on the median home value. This suggests that the area leans towards providing steady cash flow rather than high yields.
Regarding stability, the data points are somewhat mixed. The 7.7% renters indicate a relatively low percentage of the population renting, which could imply higher turnover and less consistent long-term occupancy. However, the median income of $71,282 provides a solid economic foundation for tenants to afford stable housing, thereby mitigating some risk. Without a specific day DOM (Days on Market) figure, it's challenging to gauge the exact speed at which properties are rented out, but the combination of a moderate rental market and decent median income supports a stable environment.
In conclusion, ZIP 19731 is best classified as a steady-cashflow zone rather than a high-yield/low-stability market. The FMR of $1910 is a key figure indicating the expected rental income, while the median home value of $275,095 suggests that rental income alone might not cover all costs associated with property ownership, such as mortgage payments and maintenance. The 7.7% renter population and median income of $71,282 point towards a stable but not highly volatile market, making it suitable for landlords seeking consistent returns over time.
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.