Location: Philadelphia-Camden-Wilmington, PA | Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA
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 | $1,540 |
| 1 Bedroom | $1,670 |
| 2 Bedrooms | $1,990 |
| 3 Bedrooms | $2,370 |
| 4 Bedrooms | $2,620 |
| 5 Bedrooms | $3,039 |
| 6 Bedrooms | $3,404 |
| 7 Bedrooms | $3,676 |
| 8 Bedrooms | $3,860 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,990 | $293,229 | 0.68% | D |
| 3BR | $2,370 | $351,667 | 0.67% | D |
| 4BR | $2,620 | $419,775 | 0.62% | D |
| 5BR | $3,039 | $448,980 | 0.68% | D |
U.S. Census Bureau data (2024)
Woodbury, NJ, located in ZIP code 08096, stands out within Gloucester County due to its significant population of 35,336 residents, with 26.4% of them renting their homes. The median income in Woodbury is $89,013, indicating a middle-class community where homeownership is common, with the median home value at $345,051. This suggests that the area is relatively affluent, supporting both rental and ownership markets.
The voucher economics in Woodbury align closely with market realities. The Fair Market Rent (FMR) for the zip code for fiscal year 2024 is set at $1,870, which is nearly identical to the Zillow Observed Rental Index (ZORI) of $1,869. This parity means that landlords can expect consistent demand from tenants using Section 8 vouchers, without significant discrepancies between the voucher amount and actual market rates. It also implies that the rental market is efficient, with little room for overcharging voucher users.
The data signature for ZIP 08096 reads as stable. With a high median income and median home value, the area demonstrates financial stability among its residents. The slight majority of homeowners versus renters indicates a mature market where long-term investments are likely to be rewarded. The close alignment between FMR and ZORI further supports this stability, suggesting that the rental market is well-regulated and predictable. Landlords and small-portfolio investors can confidently rely on this stability when making decisions about properties in Woodbury.
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.