ZIP 18940 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 18940 in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA FMR area.

$2,130Efficiency
$2,3001 bedroom
$2,7502 bedrooms
$3,2803 bedrooms
$3,6104 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$2,130$1,917$2,343$1,438
1 bedroom$2,300$2,070$2,530$1,558
2 bedrooms$2,750$2,475$3,025$1,860
3 bedrooms$3,280$2,952$3,608$2,216
4 bedrooms$3,610$3,249$3,971$2,445

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

Income in ZIP 18940

$273,988average adjusted gross income per tax return (2022)
$143,372average salaries and wages per return
15,900tax returns filed
12%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00019.3%
$25,000 to $50,00010.8%
$50,000 to $75,00010.3%
$75,000 to $100,0008.9%
$100,000 to $200,00023.3%
$200,000 or more27.5%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 3.2% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 18940?

HUD's FY2027 Small Area FMRs for ZIP 18940 (Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA) are $2,130 efficiency, $2,300 one bedroom, $2,750 two bedrooms, $3,280 three and $3,610 four bedrooms.

What payment standard can a housing authority set in ZIP 18940?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $2,475 to $3,025.

How affordable is rent in ZIP 18940?

Tax returns filed from ZIP 18940 reported an average adjusted gross income of $273,988 (2022). A two-bedroom unit at the Small Area FMR costs $33,000 a year, or 12% of that income.