Location: Vineland, NJ | Metro: Vineland, NJ MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,280 |
| 1 Bedroom | $1,420 |
| 2 Bedrooms | $1,700 |
| 3 Bedrooms | $2,350 |
| 4 Bedrooms | $2,470 |
| 5 Bedrooms | $2,865 |
| 6 Bedrooms | $3,209 |
| 7 Bedrooms | $3,466 |
| 8 Bedrooms | $3,639 |
U.S. Census Bureau data (2024)
The ZIP code 08314 stands out due to its unique demographic and economic characteristics. With only 454 residents, it has a very low rental rate of 7.4%, indicating that the majority of the population owns their homes. The median income in this area is relatively high at $88,077, suggesting a generally affluent community. However, the lack of data on the median home value leaves some uncertainty about the housing market dynamics.
Moving into the specifics of Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 08314 is set at $1,550 for fiscal year 2024. This figure is critical for landlords and small-portfolio investors as it defines the maximum rental amount that can be charged to tenants using vouchers. Despite the absence of market rent data, the FMR provides a benchmark for rental pricing, ensuring that the costs remain within affordable limits for low-income families while offering landlords a predictable revenue stream.
Given the high median income and low rental rate, the ZIP 08314 likely presents a stable environment for real estate investments. The stability is further supported by the predictability of the FMR, which offers a reliable guideline for rental rates. While the lack of median home value data introduces an element of uncertainty, the overall data signature leans towards a stable rather than transitional market. Landlords and investors should focus on the limited rental demand and consider diversifying their investment strategies to include other areas if they wish to maximize their portfolio's potential.
Data Sources: FMR data from HUD (2027). 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.