Location: Sussex County, DE | Metro: Sussex County, DE
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 | $1,130 |
| 1 Bedroom | $1,130 |
| 2 Bedrooms | $1,480 |
| 3 Bedrooms | $1,820 |
| 4 Bedrooms | $2,200 |
| 5 Bedrooms | $2,552 |
| 6 Bedrooms | $2,858 |
| 7 Bedrooms | $3,087 |
| 8 Bedrooms | $3,241 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,480 | $311,360 | 0.48% | F |
| 3BR | $1,820 | $465,054 | 0.39% | F |
| 4BR | $2,200 | $606,080 | 0.36% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 19945, Frankford, Delaware, is set at $1,450 for fiscal year 2024. This figure represents the maximum amount that a landlord can charge for a Section 8 rental unit. It's important to note that this is not the rent you will receive; it's the benchmark used to determine eligibility and subsidy amounts for tenants.
In comparison, the average rent in Frankford, as per the Census American Community Survey, stands at $1,148. This suggests that while the FMR is higher, the actual market rate is lower, indicating that participating in the Section 8 program could offer a stable income stream that exceeds the typical rental rates in the area.
The FMR is crucial because it helps ensure that the subsidy covers the majority of your tenant's rent. For example, if the FMR is $1,450 and the market rate is $1,148, you're likely to have a steady income that's closer to the higher figure, which can be beneficial for managing your property expenses.
Additionally, the renter share in Frankford is 13.5%, meaning that approximately 13.5% of the population rents their homes. This percentage indicates a reasonable demand for rental properties, particularly those that qualify under the Section 8 program.
When considering the acquisition cost of a rental property in Frankford, the median home value is around $483,310. This figure should be factored into your investment strategy, as it provides insight into the potential resale value and the initial capital required to enter the market.
Before making a final decision on whether to participate in the Section 8 program, verify that the property meets the Housing Quality Standards (HQS). These standards ensure that the rental unit is safe, decent, and sanitary, and passing this inspection is a prerequisite for acceptance into the program.
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.