ZIP 08007 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 08007 in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA FMR area.

$1,070Efficiency
$1,1601 bedroom
$1,3802 bedrooms
$1,6403 bedrooms
$1,8104 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,070$963$1,177$1,438
1 bedroom$1,160$1,044$1,276$1,558
2 bedrooms$1,380$1,242$1,518$1,860
3 bedrooms$1,640$1,476$1,804$2,216
4 bedrooms$1,810$1,629$1,991$2,445

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Income in ZIP 08007

$75,536average adjusted gross income per tax return (2022)
$60,432average salaries and wages per return
2,680tax returns filed
22%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00022.4%
$25,000 to $50,00022.0%
$50,000 to $75,00017.2%
$75,000 to $100,00011.9%
$100,000 to $200,00021.3%
$200,000 or more5.2%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 8.2% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 08007?

HUD's FY2027 Small Area FMRs for ZIP 08007 (Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA) are $1,070 efficiency, $1,160 one bedroom, $1,380 two bedrooms, $1,640 three and $1,810 four bedrooms.

What payment standard can a housing authority set in ZIP 08007?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,242 to $1,518.

How affordable is rent in ZIP 08007?

Tax returns filed from ZIP 08007 reported an average adjusted gross income of $75,536 (2022). A two-bedroom unit at the Small Area FMR costs $16,560 a year, or 22% of that income.