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 Section 8 market analysis for ZIP code 19884 in Philadelphia, Pennsylvania, reveals that the Fair Market Rent (FMR) set by the U.S. Department of Housing and Urban Development (HUD) for fiscal year 2024 is $1740. This figure represents the maximum amount landlords can charge for their units under the Section 8 program.
However, due to the lack of available market rent data for ZIP 19884, it's challenging to provide a direct comparison between the HUD FMR and the actual market rates. In the absence of specific market rent figures, we cannot conclusively determine whether voucher tenants will cashflow at the FMR, marginally, or only with premium units.
The median home value for ZIP 19884 is also not available, which means deriving an accurate rent-to-price ratio is impossible. Typically, this ratio helps investors understand the relative value of renting versus buying in a given area, but without this information, we must rely on other indicators for investment decisions.
Additionally, the median days on market (DOM) and the percentage of homes that required a price cut before selling are not provided. These metrics would typically help gauge the local real estate market's health and the balance between rental and purchase markets. Given the limited data, these factors cannot be assessed for their impact on rent-versus-buy dynamics.
Despite the gaps in data, the strongest investor angle in ZIP 19884 appears to be stability. The consistency of the HUD FMR provides a reliable income stream for landlords, making it a predictable and stable investment option. Stability is crucial for small-portfolio investors looking to manage risk and ensure steady cash flow.
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.