ZIP 08088 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 08088 in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA FMR area.

$1,880Efficiency
$2,0401 bedroom
$2,4302 bedrooms
$2,9003 bedrooms
$3,1904 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,880$1,692$2,068$1,438
1 bedroom$2,040$1,836$2,244$1,558
2 bedrooms$2,430$2,187$2,673$1,860
3 bedrooms$2,900$2,610$3,190$2,216
4 bedrooms$3,190$2,871$3,509$2,445

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

Income in ZIP 08088

$101,218average adjusted gross income per tax return (2022)
$66,892average salaries and wages per return
12,390tax returns filed
29%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00022.2%
$25,000 to $50,00017.3%
$50,000 to $75,00014.1%
$75,000 to $100,00011.1%
$100,000 to $200,00024.4%
$200,000 or more10.9%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 5.6% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 08088?

HUD's FY2027 Small Area FMRs for ZIP 08088 (Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA) are $1,880 efficiency, $2,040 one bedroom, $2,430 two bedrooms, $2,900 three and $3,190 four bedrooms.

What payment standard can a housing authority set in ZIP 08088?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $2,187 to $2,673.

How affordable is rent in ZIP 08088?

Tax returns filed from ZIP 08088 reported an average adjusted gross income of $101,218 (2022). A two-bedroom unit at the Small Area FMR costs $29,160 a year, or 29% of that income.