Location: Cape May County, NJ | Metro: Cape May County, NJ HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,510 |
| 1 Bedroom | $1,520 |
| 2 Bedrooms | $1,860 |
| 3 Bedrooms | $2,440 |
| 4 Bedrooms | $2,440 |
| 5 Bedrooms | $2,830 |
| 6 Bedrooms | $3,170 |
| 7 Bedrooms | $3,424 |
| 8 Bedrooms | $3,595 |
The ZIP code 08219 in Green Creek, NJ, offers a balanced mix of yield and stability for real estate investments. With a Fair Market Rent (FMR) of $1,570 for fiscal year 2024, it aligns well with the median rent of $1,200. This suggests a healthy rental market where properties can be priced competitively.
The median home value in this ZIP code is $170,196, indicating an affordable housing market. However, specific data on the percentage of renters, days on market (DOM), and income levels were not available in the recent search. Based on the median household income of $43,219, the area is considered working-class but has seen a positive increase over the past five years, suggesting stability.
The FMR of $1,570 is higher than the median rent of $1,200, making it a favorable market for landlords participating in the Section 8 program. The strong rental demand and increasing home values indicate that this is not a high-yield/low-stability market but rather a steady-cashflow zone. Investors should focus on properties that can be rented out at or near the FMR to maximize returns while maintaining occupancy.
To conclude, ZIP 08219 presents a stable and potentially profitable market for real estate investments, particularly for those interested in long-term rental properties. The combination of a decent rental market and rising property values supports this assessment.
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.