Location: Dover, DE | Metro: Dover, DE MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,330 |
| 1 Bedroom | $1,340 |
| 2 Bedrooms | $1,690 |
| 3 Bedrooms | $2,330 |
| 4 Bedrooms | $2,690 |
| 5 Bedrooms | $3,120 |
| 6 Bedrooms | $3,494 |
| 7 Bedrooms | $3,774 |
| 8 Bedrooms | $3,963 |
U.S. Census Bureau data (2024)
ZIP 19902 (Dover, DE) can be classified on two axes: yield and stability.
Yield: The Fair Market Rent (FMR) for ZIP 19902 in fiscal year 2024 is set at $1,390 for a two-bedroom apartment. This figure is notably lower than the national average of $1,430 for the same period, indicating a higher potential yield for landlords and small-portfolio investors. The lower market rent of $1,210 suggests that properties priced at the FMR level would likely attract tenants seeking affordable housing options, thus maintaining a steady occupancy rate.
Stability: Despite the lack of specific figures for the percentage of renters, days on market (DOM), and median income, the overall economic context points towards moderate stability. The average household income in Dover is $69,021, providing a reasonable financial cushion for residents. Additionally, the presence of various companies such as Delaware First Media, Dr Pepper Snapple Group, and Johnson Controls indicates a diverse job market, which can contribute to economic resilience.
Based on these figures, ZIP 19902 is neither a high-yield/low-stability flip-style market nor purely a steady-cashflow zone. Instead, it falls somewhere in between, offering a balance between competitive rental yields and stable tenant demand. The relatively low FMR compared to the national average suggests a higher yield potential, while the diverse employment landscape and reasonable household income levels indicate a degree of stability.
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.