Location: Cape May County, NJ | Metro: Cape May County, 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 | $1,850 |
| 1 Bedroom | $1,860 |
| 2 Bedrooms | $2,270 |
| 3 Bedrooms | $2,970 |
| 4 Bedrooms | $2,980 |
| 5 Bedrooms | $3,457 |
| 6 Bedrooms | $3,872 |
| 7 Bedrooms | $4,182 |
| 8 Bedrooms | $4,391 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,860 | $381,518 | 0.49% | F |
| 2BR | $2,270 | $637,779 | 0.36% | F |
| 3BR | $2,970 | $1,010,000 | 0.29% | F |
| 4BR | $2,980 | $1,377,785 | 0.22% | F |
| 5BR | $3,457 | $2,166,604 | 0.16% | F |
U.S. Census Bureau data (2024)
1750 is the Fair Market Rent (FMR) set for ZIP code 08226, Ocean City, NJ, for fiscal year 2024. 1683 represents the average market rent as reported by the Census Bureau's American Community Survey, indicating a slight premium for Section 8 properties in the area. The median home value stands at 1097996, suggesting a robust real estate market where investment can yield substantial returns. 27.3% of the population in Ocean City are renters, highlighting a significant demand for rental properties. With a median income of 101782, residents have the financial capacity to support higher rents without straining their budgets. The days on market (DOM) average is 41, which is relatively low, pointing to a brisk pace of property turnover and strong tenant interest. Lastly, the price-cut share of 0.1% indicates that rental prices in the area are stable and competitive. Given these figures, landlords and small-portfolio investors should find Ocean City, NJ, a favorable environment for Section 8 investments.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.