Location: Newark, NJ | Metro: Newark, NJ HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,460 |
| 1 Bedroom | $1,640 |
| 2 Bedrooms | $1,990 |
| 3 Bedrooms | $2,490 |
| 4 Bedrooms | $2,830 |
| 5 Bedrooms | $3,283 |
| 6 Bedrooms | $3,677 |
| 7 Bedrooms | $3,971 |
| 8 Bedrooms | $4,170 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,990 | $327,967 | 0.61% | D |
| 3BR | $2,490 | $439,320 | 0.57% | F |
| 4BR | $2,830 | $576,790 | 0.49% | F |
| 5BR | $3,283 | $633,465 | 0.52% | F |
U.S. Census Bureau data (2024)
1850 is the Fair Market Rent (FMR) for ZIP 07461 in Sussex, NJ, for fiscal year 2024, setting a benchmark for rental properties in the area. 1447 is the average market rent reported by the Census Bureau's American Community Survey, indicating that properties priced at the FMR level are competitively positioned. With a median home value of 447799, Sussex, NJ, offers a mix of affordability and value for both homeowners and investors looking to enter the market. The 20.5 percent renter share highlights a growing demand for rental properties, suggesting that landlords can expect steady interest from tenants. At 106981, the median income provides insight into the financial capacity of residents, supporting the viability of higher rents without alienating potential tenants. Despite these figures, the day DOM (Days on Market) is not available, which could be due to low vacancy rates or efficient property management practices keeping listings short-lived. The 0.2 percent price-cut share indicates that property values are stable and there is little need for landlords to reduce their asking prices to attract tenants. Given these factors, the Section 8 program, with its FMR of 1850, aligns well with the local rental market, making it a viable option for landlords and small-portfolio investors in Sussex, NJ.
The combination of competitive market rents, a substantial median home value, and a moderate renter share makes Sussex, NJ, an attractive location for real estate investment. Landlords should note that the median income of 106981 supports higher rents, potentially allowing for greater profit margins when compared to other areas. Additionally, the low price-cut share of 0.2 percent suggests that properties maintain their value well, reducing risks associated with depreciation. While the exact Days on Market figure is unavailable, the overall stability and growth indicators point to a robust rental market. For landlords considering participation in the Section 8 program, the FMR of 1850 is reflective of the local rental environment, ensuring that properties are rented at fair market rates while providing affordable housing options. In conclusion, Sussex, NJ, presents a favorable landscape for Section 8 investments, supported by strong economic fundamentals and a healthy rental market.
Verdict: Sussex, NJ, is a suitable market for Section 8 investments, with its economic indicators supporting a stable and profitable rental environment.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.