Section 8 Fair Market Rent (FMR) for ZIP 19941 - 2027

Location: Sussex County, DE | Metro: Sussex County, DE

Investment Score for ZIP 19941

N/A

Monthly Rent (2BR)

$1,520

Median Price (2BR)

$N/A

1% Rule

Annual Yield

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,160
1 Bedroom	$1,160
2 Bedrooms	$1,520
3 Bedrooms	$1,870
4 Bedrooms	$2,250
5 Bedrooms	$2,610
6 Bedrooms	$2,923
7 Bedrooms	$3,157
8 Bedrooms	$3,315

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$1,870	$368,051	0.51%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

3,435

Median Household Income

$75,139

Housing Units

1,284

Renter Percentage

18.0%

Occupancy Rate

92.8%

Renter Occupied

214

The median income in ZIP code 19941 stands at $75,139, which provides a solid foundation for evaluating the local rental market. The market rate for rentals, according to the Census ACS, is $1,094 per month. Given the median income, a household in this area can reasonably afford the market rate, as it represents approximately 17.2% of their annual income. This indicates that the majority of residents can comfortably cover their rent without significant financial strain.

However, when comparing the market rate to the Fair Market Rent (FMR) standard set by the voucher program for zip code 19941 in fiscal year 2024, which is $1,210, a different picture emerges. The FMR is higher than the market rate, suggesting that households with Section 8 vouchers might find themselves in a stronger position to negotiate rents or even pay above the typical market rate. This could be particularly advantageous for landlords who accept vouchers, as they might attract tenants willing to pay closer to the FMR.

With only 18.0% of the 3,435 population being renters, the competition among landlords is relatively low. However, the affordability gap between the market rate and the FMR means that landlords who accept vouchers could benefit from a more stable tenant pool and potentially higher rent payments. On the other hand, landlords who rely solely on market-rate cash-paying tenants will face a more competitive landscape but also won't have to deal with the administrative overhead associated with voucher programs.

Takeaway for Landlords:

Accepting vouchers can provide a steady stream of tenants willing to pay closer to the $1,210 FMR, enhancing revenue potential.
Non-voucher tenants are likely to be more financially stable, given the median income and market rate, but the competition for these tenants is lower.
Landlords should weigh the benefits of higher potential rents against the administrative complexity of voucher programs to determine the best strategy for their portfolio.

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.