Location: Philadelphia-Camden-Wilmington, PA | Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,400 |
| 1 Bedroom | $1,520 |
| 2 Bedrooms | $1,810 |
| 3 Bedrooms | $2,160 |
| 4 Bedrooms | $2,380 |
| 5 Bedrooms | $2,761 |
| 6 Bedrooms | $3,092 |
| 7 Bedrooms | $3,339 |
| 8 Bedrooms | $3,506 |
The ZIP code 19735, located in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA, presents an interesting market for Section 8 investors. The HUD Fair Market Rent (FMR) for this area in fiscal year 2024 is set at $1740. However, the market rent data for this specific ZIP code is currently unavailable, which makes it challenging to provide a direct comparison between the HUD FMR and actual market rents.
Given the lack of market rent data, we can infer that voucher tenants would typically cashflow at the FMR rate, assuming the market rents are higher. This is a common scenario in areas where the cost of living exceeds the HUD FMR. To make precise recommendations, specific market rent figures are necessary, but based on typical trends, landlords should expect positive cashflow when renting at the FMR rate.
The median home value for ZIP 19735 is also currently not available. Without this figure, deriving the rent-to-price ratio is not feasible. However, the rent-to-price ratio is a critical metric for understanding the broader rent-versus-buy dynamics. It helps investors gauge whether rental properties are undervalued compared to their potential as investment homes.
The number of days on market (DOM) and the percentage of price cuts are not available for this ZIP code. These metrics are important for assessing the speed and ease with which properties can be sold, which indirectly affects the rental market's stability and the likelihood of price adjustments due to market conditions.
In conclusion, while specific market rent and median home value data are missing, the primary strength for Section 8 investors in ZIP 19735 lies in the potential for strong cashflow. With the HUD FMR set at $1740, and assuming market rents are higher, landlords can expect to generate positive cashflow from voucher tenants, making it an attractive investment opportunity.
Data Sources: FMR data from HUD (2027).
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.