Location: Monmouth-Ocean, NJ | Metro: Monmouth-Ocean, 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 | $1,620 |
| 1 Bedroom | $1,800 |
| 2 Bedrooms | $2,220 |
| 3 Bedrooms | $2,850 |
| 4 Bedrooms | $3,150 |
| 5 Bedrooms | $3,654 |
| 6 Bedrooms | $4,092 |
| 7 Bedrooms | $4,419 |
| 8 Bedrooms | $4,640 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,800 | $570,631 | 0.32% | F |
| 2BR | $2,220 | $844,200 | 0.26% | F |
| 3BR | $2,850 | $1,183,515 | 0.24% | F |
| 4BR | $3,150 | $1,579,700 | 0.2% | F |
| 5BR | $3,654 | $1,981,099 | 0.18% | F |
U.S. Census Bureau data (2024)
The ZIP code 07720, located in Bradley Beach, NJ, stands out due to its unique demographic and economic characteristics. With a population of 4,158 residents, 51.5% of whom are renters, this area has a median income of $97,055 and a median home value of $1,085,251. These figures indicate a community that is both affluent and significantly reliant on rental properties.
The voucher economics in Bradley Beach present a notable opportunity for landlords. The Fair Market Rent (FMR) for the ZIP code for fiscal year 2024 is set at $1,840, while the market rent, as measured by the Zillow Rent Index (ZORI), is $2,688. This difference means that landlords can potentially secure higher rents through market rates while still benefiting from the stability and reliability of Section 8 vouchers. The gap between FMR and ZORI suggests that the demand for affordable housing is strong, even in an otherwise high-value area.
Based on the available data, Bradley Beach's ZIP 07720 appears to be a stable market. The relatively high median income and median home values suggest a robust local economy and a strong foundation for property investments. However, the significant percentage of renters indicates a need for diverse housing options, which could also signal a transitional element within the community as it balances the needs of both homeowners and renters. For small-portfolio investors, this ZIP code offers a mix of stability and potential growth opportunities, particularly in the rental sector.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.