Location: Atlantic City-Hammonton, NJ | Metro: Atlantic City-Hammonton, 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 | $1,580 |
| 1 Bedroom | $1,800 |
| 2 Bedrooms | $2,180 |
| 3 Bedrooms | $2,960 |
| 4 Bedrooms | $3,270 |
| 5 Bedrooms | $3,793 |
| 6 Bedrooms | $4,248 |
| 7 Bedrooms | $4,588 |
| 8 Bedrooms | $4,817 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,800 | $152,740 | 1.18% | B |
| 2BR | $2,180 | $231,380 | 0.94% | C |
| 3BR | $2,960 | $341,553 | 0.87% | C |
| 4BR | $3,270 | $464,060 | 0.7% | D |
| 5BR | $3,793 | $533,145 | 0.71% | D |
U.S. Census Bureau data (2024)
1960 is the Fair Market Rent (FMR) for ZIP code 08330, Mays Landing, NJ, as set for fiscal year 2024. 2324 represents the actual market rent, or ZORI, indicating a slight premium over the FMR. 308639 is the median home value, reflecting a robust housing market where property values are significantly higher than the national average. 27.1 is the percentage of renters in the area, suggesting a substantial demand for rental properties. 77167 is the median income figure, which is below the national average, pointing to a segment of the population that might rely on assistance programs like Section 8. 40 is the number of days on the market (DOM) for properties, showing a relatively quick turnover rate and strong interest from buyers. 0.2 is the percentage of listings that have been price-cut, indicating that sellers are generally achieving their asking prices without having to negotiate downwards.
The disparity between the FMR at 1960 and the ZORI at 2324 suggests that landlords can charge above the FMR and still remain competitive in the local rental market. However, with 27.1 of the population renting and a median income of 77167, there is a significant portion of tenants who will need financial aid, making Section 8 vouchers an attractive option for securing long-term tenants. The quick DOM of 40 and low price-cut share of 0.2 indicate that the real estate market in Mays Landing is healthy and stable, with homes selling briskly at or near their listed prices.
In conclusion, the data paints a picture of a market where landlords can benefit from both the robustness of the real estate market and the availability of tenants through Section 8 programs. The verdict for Section 8 participation in ZIP 08330 is positive, given the alignment of FMR with the local rental market dynamics and the presence of a sizeable tenant base that would likely utilize these vouchers.
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.