Location: Dover, DE | Metro: Dover, DE MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,290 |
| 1 Bedroom | $1,290 |
| 2 Bedrooms | $1,630 |
| 3 Bedrooms | $2,250 |
| 4 Bedrooms | $2,590 |
| 5 Bedrooms | $3,004 |
| 6 Bedrooms | $3,364 |
| 7 Bedrooms | $3,633 |
| 8 Bedrooms | $3,815 |
The ZIP code 19903 is located in Dover, Delaware, within Kent County. The neighborhood lacks specific demographic data such as population size and median income, but it supports both business and residential activity.
Regarding housing, the median home value and market rent are also not available. However, the Fair Market Rent (FMR) for ZIP 19903 in fiscal year 2024 is set at $1370. This figure is crucial for landlords and investors considering Section 8 properties in the area.
The absence of detailed population and income data makes it challenging to assess the overall economic profile of the neighborhood. Nevertheless, the FMR provides a benchmark for rental pricing, indicating that hands-off voucher operators could find the area suitable for their investment strategy.
For hands-on value-add buyers looking to improve properties and potentially command higher rents, additional research into the local market dynamics would be necessary. Without specific market rent figures, it is unclear if there is a significant gap between the FMR and what the market can bear.
To conclude, ZIP 19903 fits well for hands-off Section 8 operators due to the defined FMR. However, for those seeking to actively manage and enhance their investments, more localized market analysis is required to understand potential opportunities for increasing property value and rental income.
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.