Location: Dover, DE | Metro: Dover, DE 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 | $1,210 |
| 1 Bedroom | $1,220 |
| 2 Bedrooms | $1,530 |
| 3 Bedrooms | $2,110 |
| 4 Bedrooms | $2,430 |
| 5 Bedrooms | $2,819 |
| 6 Bedrooms | $3,157 |
| 7 Bedrooms | $3,410 |
| 8 Bedrooms | $3,581 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,530 | $269,635 | 0.57% | F |
| 3BR | $2,110 | $374,193 | 0.56% | F |
| 4BR | $2,430 | $444,306 | 0.55% | F |
| 5BR | $2,819 | $511,218 | 0.55% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 19943, located in Felton, Delaware, within Kent County, involve understanding the interplay between the Safety-Net Fair Market Rent (SAFMR) and the local market rent. For a two-bedroom apartment, the SAFMR for FY 2024 is set at $1290. This figure represents the maximum amount that a Section 8 housing voucher will cover for rent in this specific ZIP code. However, the local market rent, as reported by the Census American Community Survey (ACS), is lower at $1,184.
A landlord should be aware that the voucher does not cover the entire rent amount. Instead, it covers the difference between the tenant's contribution and the total rent. The tenant's portion is typically 30% of their income, but there are also utility allowances that need to be considered. In ZIP 19943, the utility allowance for a two-bedroom unit can vary, but it is usually around $300 per month.
To illustrate, let’s assume a tenant has an income that requires them to pay $300 towards the rent. With the utility allowance included, the total monthly contribution from the tenant would be approximately $600. The voucher would then cover the remaining amount up to the SAFMR limit of $1290. Therefore, the landlord would receive $690 from the voucher program and $600 from the tenant, totaling $1290.
If the market rent is below the SAFMR, which is the case here with a local market rent of $1,184, the landlord will still only receive the market rent plus any applicable utility allowances. In this scenario, the landlord would receive the full market rent of $1,184 plus the utility allowance, totaling $1,484. However, since the voucher reimbursement is capped at $1290, the landlord would receive $1290 from the voucher program and $194 from the tenant, totaling $1484.
In ZIP 19943, the typical reimbursement gap or surplus for a two-bedroom unit is a surplus of $194. This means that landlords could potentially earn slightly more than the local market rent when participating in the Section 8 program, given the utility allowance and the higher SAFMR threshold. However, it's important to note that this surplus does not exceed the SAFMR cap, ensuring that rents remain affordable for low-income families.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.