Section 8 Fair Market Rent (FMR) for ZIP 24612 - 2027

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$800
1 Bedroom	$820
2 Bedrooms	$950
3 Bedrooms	$1,220
4 Bedrooms	$1,360
5 Bedrooms	$1,578
6 Bedrooms	$1,767
7 Bedrooms	$1,908
8 Bedrooms	$2,003

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Based on the available data, the Fair Market Rent (FMR) for ZIP 24612 as of fiscal year 2026 is set at $920 per month for a 1-bedroom unit. In contrast, the market rent for ZIP 24612 is lower at $772 per month, indicating that the FMR exceeds the actual market rent by $148 per month. This represents an increase of approximately 19.2%. The gap between the FMR and the market rent means that landlords who accept Section 8 housing vouchers can expect to receive higher rental income than what the open market currently offers. This makes properties in ZIP 24612 attractive for a yield play, where landlords can benefit from the government's rental subsidy. Given the low median income of $19,083 in this area, it is clear that many residents rely on assistance such as housing vouchers to afford their living expenses. However, accepting housing voucher tenants also comes with certain costs and considerations. Landlords must comply with federal inspection standards and maintain their properties to meet these requirements. Additionally, the administrative process for managing voucher tenants can be more complex compared to traditional market-rate rentals. Despite these factors, the potential for receiving above-market rents through the Section 8 program can offset these costs and provide a steady, reliable income stream. In ZIP 24612, only 8.0% of residents are renters, which suggests a relatively small rental market. The median home value data is not available, but given the context of low median income, it is reasonable to infer that property values are also likely to be modest. This combination of factors makes the Section 8 program particularly significant for the rental market in this area.

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.