Section 8 Fair Market Rent (FMR) for ZIP 08081 - 2027

Investment Score for ZIP 08081

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,580
1 Bedroom	$1,710
2 Bedrooms	$2,040
3 Bedrooms	$2,430
4 Bedrooms	$2,680
5 Bedrooms	$3,109
6 Bedrooms	$3,482
7 Bedrooms	$3,761
8 Bedrooms	$3,949

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$1,710	$149,475	1.14%	B
2BR	$2,040	$234,334	0.87%	C
3BR	$2,430	$347,838	0.7%	D
4BR	$2,680	$490,205	0.55%	F
5BR	$3,109	$528,588	0.59%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 08081 (Sicklerville, NJ) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) figures for ZIP code 08081 in Sicklerville, NJ, indicate that the cost of renting a 2-bedroom unit is set at $2010 per month. This is a critical benchmark for Section 8 voucher holders, who must find housing that does not exceed their maximum allowable rent. However, the actual median rent for a 2-bedroom unit in this area is significantly higher, at approximately $229,949 based on Zillow data. This means that the price-to-FMR ratio is about 9.5x, indicating that actual rents are far above the FMR levels. For instance, a 2BR unit priced at $229,949 would have a monthly rent of roughly $1916, which is already above the FMR of $2010. This dynamic presents significant constraints for voucher holders. They are likely to struggle finding suitable housing within the FMR limits, particularly for units larger than 1 bedroom. The FMR for a 3BR unit is $2410, but given the high price-to-FMR ratio, it’s probable that actual rents for such units are even higher, making them nearly impossible to afford with a Section 8 voucher. #### Affordability & Renter Profile The median household income in ZIP code 08081 is $105,800, which places it in a relatively affluent category. Only 15.1% of the population are renters, suggesting a predominantly owner-occupied market. The occupancy rate of 96.1% indicates a robust demand for housing, with very few vacant units available. Given the high median income and low percentage of renters, it’s reasonable to infer that the typical renter in this area is likely to be financially stable and able to afford higher rents without government assistance. The high price-to-FMR ratio further supports this conclusion, as it suggests that the rental market is not heavily reliant on subsidized housing. This tight market makes it challenging for voucher holders to find affordable housing, especially since the FMR represents only 22.8% of the median income. #### Investor Angle From an investor perspective, the ZIP code 08081 presents a mixed picture when considering the FMR for Section 8 vouchers. While the median household income is high, the actual rents are also substantially higher than the FMR. For example, a 2BR unit priced at $229,949 would generate a monthly rent of around $1916, which is still above the FMR limit of $2010. This implies that landlords who want to participate in the Section 8 program must either accept lower-than-market rents or face difficulties in attracting tenants with vouchers. In terms of investment grade, the high median income and occupancy rate suggest a strong economic foundation. However, the limited number of renters and the high price-to-FMR ratio indicate that the potential for cash flow from Section 8 vouchers is constrained. Investors should carefully consider the balance between market rents and FMRs before entering this market. #### Specific Actionable Insights 1. **Focus on Smaller Units**: Given the high price-to-FMR ratio, investors might find more success by focusing on smaller units, such as 0BR or 1BR apartments. The FMR for these units is $1550 and $1690 respectively, which are closer to what could be considered affordable in this market. A 1BR unit priced at $1690 would represent about 16% of the median income, making it slightly more feasible for voucher holders. 2. **Consider Non-Section 8 Tenants**: Due to the tight market and high actual rents, it might be more profitable to target non-Section 8 tenants. The median income of $105,800 suggests that many residents can afford market-rate rents, reducing the reliance on FMR limits. Investors could potentially achieve better cash flow by renting to individuals who do not require government assistance. 3. **Explore Subsidies Beyond Section 8**: Investors looking to serve low-income renters might explore other forms of subsidies or rental assistance programs that offer higher payment standards than Section 8. This could include state-level housing assistance or private programs designed to help renters in high-cost areas. #### Bottom Line For Section 8-focused investors, ZIP code 08081 (Sicklerville, NJ) is a challenging market due to the high price-to-FMR ratio and limited availability of affordable units. The recommendation for this ZIP code is to **Skip** unless you can focus on smaller units or explore alternative subsidy programs. The tight market and high rents make it difficult to achieve positive cash flow solely through Section 8 vouchers.

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.