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 | $1,800 |
| 1 Bedroom | $2,020 |
| 2 Bedrooms | $2,490 |
| 3 Bedrooms | $3,320 |
| 4 Bedrooms | $3,680 |
| 5 Bedrooms | $4,269 |
| 6 Bedrooms | $4,781 |
| 7 Bedrooms | $5,163 |
| 8 Bedrooms | $5,421 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,490 | $687,847 | 0.36% | F |
| 3BR | $3,320 | $873,602 | 0.38% | F |
| 4BR | $3,680 | $1,124,087 | 0.33% | F |
| 5BR | $4,269 | $1,485,053 | 0.29% | F |
U.S. Census Bureau data (2024)
2870 is the Fair Market Rent (FMR) for ZIP code 07757, Oceanport, NJ, as set by HUD for fiscal year 2024. This figure represents the maximum amount that a landlord can charge for a rental property under the Section 8 program. In contrast, the market rent, according to Census ACS data, stands at 1608, indicating a significant gap between subsidized and market rates. The median home value in this area is 913520, suggesting a robust real estate market. However, only 16.9% of the population are renters, which implies a relatively low demand for rental properties compared to homeownership. The median income of residents is 126094, which is crucial for understanding the financial capacity of potential tenants. While specific data on days on market (DOM) and price-cut share is not available, the existing figures provide a comprehensive picture of the rental landscape in Oceanport. Given the disparity between the FMR and market rent, landlords can potentially secure steady, government-backed income through Section 8. Moreover, the high median home value suggests that the area is desirable, though the low renter share might indicate competition for rental units. In conclusion, despite the limited availability of some metrics, the overall economic conditions make Oceanport an attractive location for Section 8 participation. Verdict: Suitable for Section 8 investment.
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.