Location: Vineland, NJ | Metro: Vineland, NJ MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,330 |
| 1 Bedroom | $1,450 |
| 2 Bedrooms | $1,740 |
| 3 Bedrooms | $2,390 |
| 4 Bedrooms | $2,500 |
| 5 Bedrooms | $2,900 |
| 6 Bedrooms | $3,248 |
| 7 Bedrooms | $3,508 |
| 8 Bedrooms | $3,683 |
U.S. Census Bureau data (2024)
The median home value in ZIP code 08316, located in Cumberland County and part of the Vineland, NJ MSA, stands at $178,900 according to recent data sources. This figure provides insight into the local real estate market, which can be useful for landlords and small-portfolio investors considering properties in this area.
Comparing the HUD Fair Market Rent (FMR) of $1550 for FY 2024 against the current market rent of approximately $1,465 for a 1-bedroom unit, it's clear that voucher tenants will generally cashflow at the FMR. This suggests that landlords can expect a positive cash flow when renting to tenants with Section 8 vouchers, assuming they adhere to the FMR guidelines.
To further analyze the market, we derive the rent-to-price ratio from the available data. With an average monthly rent of $1,465 and a median home value of $178,900, the annual rent is roughly $17,580. Dividing this by the median home value yields a rent-to-price ratio of about 9.8%. This ratio indicates that rental income represents a significant portion of the property's value, making rental properties a viable investment option in this ZIP code.
While specific figures for days on market (DOM) and price cut shares were not provided, the relatively low median home value and competitive market rent suggest that the rental market is robust and likely to attract tenants without extensive vacancy periods or significant price reductions.
The strongest investor angle in ZIP code 08316 is cashflow. Given the positive difference between the HUD FMR and the market rent, landlords can anticipate steady and predictable income streams from voucher tenants, making this area particularly attractive for those focused on generating rental income.
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.