Location: Philadelphia-Camden-Wilmington, PA | Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,240 |
| 1 Bedroom | $1,350 |
| 2 Bedrooms | $1,610 |
| 3 Bedrooms | $1,920 |
| 4 Bedrooms | $2,120 |
| 5 Bedrooms | $2,459 |
| 6 Bedrooms | $2,754 |
| 7 Bedrooms | $2,974 |
| 8 Bedrooms | $3,123 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,350 | $147,383 | 0.92% | C |
| 2BR | $1,610 | $185,548 | 0.87% | C |
| 3BR | $1,920 | $201,278 | 0.95% | C |
| 4BR | $2,120 | $258,298 | 0.82% | C |
| 5BR | $2,459 | $359,558 | 0.68% | D |
U.S. Census Bureau data (2024)
The real estate market in ZIP 19802 (Wilmington, DE) presents a nuanced picture that balances both stability and potential growth. The median home value stands at $201,388, indicating a moderate price point that remains attractive to a wide range of buyers. Notably, only 0.2% of listings have seen reductions in price, which suggests strong seller pricing power and a resilient market. The absence of a median days on market (DOM) figure could imply either a robust sales pace or a relatively low volume of transactions, both of which can contribute to maintaining home values.
On the rental side, the Federal Market Rent (FMR) for ZIP 19802 is projected at $1,560 for fiscal year 2024, slightly below the current market rate of $1,590 as measured by ZORI (Zillow Observed Rent Index). This indicates that landlords currently enjoy a small margin above government-subsidized rates, which is beneficial for cash flow. However, it also signals a tight market where competition for tenants is high, and any significant increase in supply could erode this advantage.
For long-term investors, the setup in ZIP 19802 leans towards a conservative appreciation thesis. With stable home values and a modest gap between FMR and ZORI, there's little evidence to suggest rapid price escalation. Instead, the data points to a scenario where steady, if not slow, growth in property values is likely, driven by the area's economic fundamentals and limited price concessions. Long-hold investors should focus on the reliability of rental income and the preservation of capital rather than speculative gains.
The combination of minimal price reductions, a moderate median home value, and competitive rental rates implies a balanced market. Landlords and small-portfolio investors can expect to maintain their current positions without significant pressure to lower rents or sell homes at a discount. However, they must remain vigilant to shifts in the local economy and housing demand, which could impact both rental yields and property values.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.