FMR is near market; voucher and private rents are aligned.
1.03
1 BR
1 BR- 19076
0.96ratio
FMR$1,260
Market$1,310
vs market-$50
FMR is near market; voucher and private rents are aligned.
0.96
2 BR
2 BR- 19076
0.87ratio
FMR$1,500
Market$1,730
vs market-$230
FMR is below market; voucher rent may lag private rents.
0.87
3 BR
3 BR- 19076
0.80ratio
FMR$1,790
Market$2,230
vs market-$440
FMR is below market; voucher rent may lag private rents.
0.80
4 BR
4 BR- 19076
0.76ratio
FMR$1,970
Market$2,590
vs market-$620
FMR is below market; voucher rent may lag private rents.
0.76
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
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Prospect Park, PA fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Prospect Park, PA is $1,500 a month. That is down 0.7% from $1,510 in FY 2026. Prospect Park is in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. The median county two-bedroom FMR in Pennsylvania is $1,136, so Prospect Park is 32% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Prospect Park, PA
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,170
$1,160
−0.9%
$1,044–$1,276
1BR
$1,270
$1,260
−0.8%
$1,134–$1,386
2BR
$1,510
$1,500
−0.7%
$1,350–$1,650
3BR
$1,810
$1,790
−1.1%
$1,611–$1,969
4BR
$2,020
$1,970
−2.5%
$1,773–$2,167
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Prospect Park, PA
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,160
$1,260
$1,500
$1,790
$1,970
FY 2026
$1,170
$1,270
$1,510
$1,810
$2,020
FY 2025
$1,160
$1,280
$1,520
$1,830
$2,080
FY 2024
$1,130
$1,250
$1,500
$1,810
$2,090
FY 2023
$940
$1,060
$1,280
$1,560
$1,810
Questions about Prospect Park, PA rents
How much will Section 8 pay for a two-bedroom in Prospect Park, PA?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,500, that basic range is $1,350 to $1,650 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is Prospect Park, PA in?
Prospect Park, PA is in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.
How much did fair market rent change in Prospect Park, PA for FY 2027?
The two-bedroom FMR fell 0.7%, from $1,510 in FY 2026 to $1,500 in FY 2027. Since FY 2023 it has risen 17.2%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set