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 | $2,050 |
| 1 Bedroom | $2,260 |
| 2 Bedrooms | $2,800 |
| 3 Bedrooms | $3,590 |
| 4 Bedrooms | $3,980 |
| 5 Bedrooms | $4,617 |
| 6 Bedrooms | $5,171 |
| 7 Bedrooms | $5,585 |
| 8 Bedrooms | $5,864 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,260 | $539,179 | 0.42% | F |
| 2BR | $2,800 | $819,645 | 0.34% | F |
| 3BR | $3,590 | $1,437,162 | 0.25% | F |
| 4BR | $3,980 | $2,019,690 | 0.2% | F |
| 5BR | $4,617 | $2,834,668 | 0.16% | F |
U.S. Census Bureau data (2024)
The ZIP code 07750, encompassing Monmouth Beach, NJ, is characterized by a relatively small population of 3,207 residents, with only 15.6% identified as renters. This indicates that the area is predominantly dominated by homeowners rather than renters, suggesting that the demand for rental properties, including those utilizing Section 8 vouchers, is likely to be limited.
The median household income in this ZIP code stands at a substantial $150,188. In comparison to the market rent of $4,500, this represents approximately 12.5% of the median household income. This figure is notably higher than the Federal Market Rent (FMR) for the area, which is set at $2780 for fiscal year 2024. The FMR serves as a benchmark for affordable housing, and the fact that the market rent exceeds it by over 60% highlights the premium nature of the rentals available in Monmouth Beach.
Given the high median income and the elevated market rent, landlords in this ZIP can expect tenants who are financially stable but may not rely heavily on Section 8 vouchers. The typical tenant profile would likely consist of individuals or families with a strong capacity to pay market rates, potentially including retirees, young professionals, or those seeking luxury coastal living. However, due to the limited number of renters, the competition for tenants could be fierce, particularly among those who might qualify for and utilize housing vouchers.
To summarize, Monmouth Beach, NJ (ZIP 07750) is not a renter-heavy ZIP with deep voucher demand. Instead, it is an area where homeownership prevails, and the rental market caters primarily to those willing and able to pay premium rents. Landlords should prepare for a niche market of tenants who are financially secure and may prioritize luxury amenities and coastal proximity over the need for subsidized housing options.
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.