Location: Middlesex-Somerset-Hunterdon, NJ | Metro: Middlesex-Somerset-Hunterdon, NJ HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,050 |
| 1 Bedroom | $2,200 |
| 2 Bedrooms | $2,750 |
| 3 Bedrooms | $3,280 |
| 4 Bedrooms | $3,680 |
| 5 Bedrooms | $4,269 |
| 6 Bedrooms | $4,781 |
| 7 Bedrooms | $5,163 |
| 8 Bedrooms | $5,421 |
The ZIP code 07938 in Middlesex-Somerset-Hunterdon County, NJ, stands out due to the lack of detailed demographic data currently available, which includes resident numbers, percentage of renters, median income, and median home value. This scarcity of information presents both challenges and opportunities for landlords and small-portfolio investors.
Moving to the specifics of voucher economics, the Fair Market Rent (FMR) for ZIP 07938 in fiscal year 2024 is set at $2410. This figure is critical for landlords participating in the Section 8 program, as it dictates the maximum rent that can be charged for a unit to qualify under the housing assistance program. However, without the corresponding market rent data, it's difficult to assess how competitive this rate is within the local rental market.
The absence of key demographic indicators suggests that the area might be less tracked or perhaps undergoing changes that have yet to be fully captured by statistical surveys. This could mean that the ZIP code is either in a transitional phase, where it is evolving in terms of population dynamics and economic conditions, or it is stable but underrepresented in public datasets. For investors and landlords, understanding these dynamics is crucial for making informed decisions about property investments and management strategies in the ZIP 07938 area.
Data Sources: FMR data from HUD (2027).
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.