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 | $1,450 |
| 1 Bedroom | $1,570 |
| 2 Bedrooms | $1,880 |
| 3 Bedrooms | $2,240 |
| 4 Bedrooms | $2,470 |
| 5 Bedrooms | $2,865 |
| 6 Bedrooms | $3,209 |
| 7 Bedrooms | $3,466 |
| 8 Bedrooms | $3,639 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,880 | $247,217 | 0.76% | D |
| 3BR | $2,240 | $423,283 | 0.53% | F |
| 4BR | $2,470 | $515,916 | 0.48% | F |
| 5BR | $2,865 | $596,220 | 0.48% | F |
U.S. Census Bureau data (2024)
The ZIP code 19810 encompasses a part of Wilmington, DE, known for its relatively affluent and stable residential environment. With a total population of 26,530, it is primarily composed of homeowners, as only 18.8% of residents are renters. The area boasts a high median income of $112,775, indicating a prosperous community where many residents can afford to own homes valued at a median of $463,647.
Turning to the economic dynamics of renting in ZIP 19810, the Fair Market Rent (FMR) for the fiscal year 2024 is set at $1,730. This figure contrasts sharply with the actual market rent, which stands at $2,024 according to ZORI (Zillow Observed Rent Index). The difference between these two figures suggests that landlords who participate in the Section 8 program could see a gap in rental rates, potentially impacting their cash flow and investment returns.
The question then becomes whether ZIP 19810 is suitable for a hands-off voucher operator or requires a more hands-on approach from a value-add buyer. Given the high median income and home values, there is likely a strong demand for quality housing, both owned and rented. However, the discrepancy between FMR and market rent indicates that landlords must be prepared to manage properties effectively to ensure they remain attractive to tenants while operating under the constraints of the Section 8 program. For those looking to operate hands-off, the potential for lower-than-market rental income might pose challenges. Conversely, a value-add buyer could find opportunities to improve property conditions and appeal, thereby attracting higher-quality tenants and possibly negotiating higher rents within the allowable limits of the program.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.