Location: Philadelphia-Camden-Wilmington, PA | Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,040 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,340 |
| 3 Bedrooms | $1,600 |
| 4 Bedrooms | $1,760 |
| 5 Bedrooms | $2,042 |
| 6 Bedrooms | $2,287 |
| 7 Bedrooms | $2,470 |
| 8 Bedrooms | $2,594 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors targeting ZIP code 21913 in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA reveals several key points. The HUD Fair Market Rent (FMR) for the area is set at $1,110 for the fiscal year 2024. In comparison, the Census American Community Survey (ACS) reports the market rent at $1,149. This indicates that voucher tenants will generate cash flow at FMR levels, albeit marginally, as the difference between the two figures is relatively small. Landlords and small-portfolio investors should expect to see positive cash flow when renting to voucher holders, but it may require some efficiency in managing expenses.
The median home value in ZIP 21913 stands at $301,816. To derive the rent-to-price ratio, we divide the average monthly rent by the median home value and multiply by 12. This yields a rent-to-price ratio of approximately 0.45%, suggesting that rental income is a minor component of the total property value. For those considering the purchase of investment properties, this low ratio implies that the primary financial benefit would come from ownership rather than rental income alone.
Note that the data does not provide a specific median Days on Market (DOM) or percentage of price cuts, which could be relevant in assessing the buy-versus-rent dynamics. However, given the marginal cash flow potential and the stable nature of the housing market, the strongest angle for investors in this ZIP code is likely to be stability. Investors can rely on consistent cash flow from voucher tenants and a predictable market environment, making stability the most compelling factor for long-term investment.
Investors looking to capitalize on the local real estate market should focus on stability as their primary objective. The combination of HUD FMR rates closely aligning with market rents ensures a steady stream of income from voucher tenants, while the overall housing market provides a reliable foundation for property ownership.
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.