Section 8 Fair Market Rent (FMR) for ZIP 21920 - 2027

Location: Philadelphia-Camden-Wilmington, PA | Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,410
1 Bedroom	$1,520
2 Bedrooms	$1,820
3 Bedrooms	$2,170
4 Bedrooms	$2,390
5 Bedrooms	$2,772
6 Bedrooms	$3,105
7 Bedrooms	$3,353
8 Bedrooms	$3,521

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,413

Median Household Income

$124,146

Housing Units

436

Renter Percentage

34.6%

Occupancy Rate

100.0%

Renter Occupied

151

ZIP code 21920, located within the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA, presents a unique profile when compared to typical ZIP codes in this expansive metropolitan area. The Fair Market Rent (FMR) for 21920 is set at $1750 for fiscal year 2024, which is notably higher than the market rent of $1,346. This indicates that government-subsidized housing in this area might be more attractive to tenants eligible for Section 8 benefits, given the higher rental assistance threshold.

The median home value in 21920 stands at $272,920, which is lower than the average home value across the entire MSA. This suggests that the area could be considered a value pocket for investors looking to acquire properties at a relatively lower cost compared to other parts of the metro.

Additionally, the renter share in 21920 is 34.6%, which is above the national average but not necessarily indicative of the metro-wide trend. A higher renter share combined with below-average home values can signal a potential sweet spot for Section 8 landlords, as it implies a greater concentration of renters who may benefit from rental assistance programs.

To further contextualize these figures, consider the following:

Higher FMR vs. Lower Market Rent: This gap could attract more Section 8 tenants, making the ZIP code an appealing location for landlords participating in the program.
Below-Average Home Values: Investors could find opportunities to purchase properties at a discount relative to the broader MSA, potentially leading to higher returns on investment.
Above-Average Renter Share: With a significant portion of residents being renters, there's likely a robust demand for rental properties, especially those that qualify for Section 8 subsidies.

In summary, ZIP code 21920 appears to be a value pocket within the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA, offering both lower property acquisition costs and a higher likelihood of attracting Section 8 tenants due to the favorable FMR-to-market rent ratio and substantial renter share.

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.