Location: Monmouth-Ocean, NJ | Metro: Middlesex-Somerset-Hunterdon, 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 | $1,810 |
| 1 Bedroom | $2,000 |
| 2 Bedrooms | $2,480 |
| 3 Bedrooms | $3,170 |
| 4 Bedrooms | $3,510 |
| 5 Bedrooms | $4,072 |
| 6 Bedrooms | $4,561 |
| 7 Bedrooms | $4,926 |
| 8 Bedrooms | $5,172 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,480 | $427,570 | 0.58% | F |
| 3BR | $3,170 | $576,398 | 0.55% | F |
| 4BR | $3,510 | $673,435 | 0.52% | F |
U.S. Census Bureau data (2024)
1930 is the Fair Market Rent (FMR) for ZIP code 07721, Cliffwood, NJ, as set by HUD for fiscal year 2024. 1862 is the average market rent reported by the Census Bureau's American Community Survey, indicating a slight premium for Section 8 contracts over the local rental market. 512,754 represents the median home value in this area, which is significantly higher than the average market rent, suggesting a diverse housing market with opportunities for both single-family homes and rental properties. 41.2% of the population in Cliffwood are renters, highlighting a substantial demand for rental units. 123,060 is the median income figure for the area, providing insight into the economic profile of potential tenants and their ability to pay market rents. The lack of specific data on days on market (DOM) and the percentage of price-cut shares suggests a stable real estate market without significant fluctuations or prolonged listings. Given these figures, landlords and small-portfolio investors can expect a competitive but manageable rental market where Section 8 contracts offer a reliable source of income at a rate slightly above the typical market rent. The verdict for Section 8 participation in Cliffwood, NJ, is positive, offering a secure and steady revenue stream.
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.