Location: Vineland, 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 | $1,440 |
| 1 Bedroom | $1,560 |
| 2 Bedrooms | $1,870 |
| 3 Bedrooms | $2,290 |
| 4 Bedrooms | $2,500 |
| 5 Bedrooms | $2,900 |
| 6 Bedrooms | $3,248 |
| 7 Bedrooms | $3,508 |
| 8 Bedrooms | $3,683 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,290 | $344,398 | 0.66% | D |
| 4BR | $2,500 | $462,692 | 0.54% | F |
U.S. Census Bureau data (2024)
The ZIP code 08344 is situated in an area predominantly dominated by homeowners rather than renters. With only 6.0% of the population renting, this indicates a relatively low density of potential Section 8 tenants. The total population of 5,564 suggests that the number of renters would be around 334 individuals.
The median household income in this ZIP is $85,938, which is notably higher than the typical market rent of $1,571. This means that the average rent consumes approximately 18.3% of the local median income. In comparison to the Fair Market Rent (FMR) of $2,000 for FY 2024, the current market rent is lower, indicating that the housing costs are slightly below the federal guidelines for affordability.
Given these income levels and the current market rent, landlords in ZIP 08344 can expect a tenant pool that primarily consists of individuals who have stable incomes but may still require assistance through housing vouchers. The relatively low percentage of renters suggests that landlords will need to actively seek out those who qualify for Section 8 vouchers, as the demand for subsidized rental units is not particularly high in this area.
To summarize, landlords in ZIP 08344 should prepare for a market where the number of Section 8 tenants is limited due to the low percentage of renters. The typical rent represents about 18.3% of the median income, making it manageable for most residents. However, the actual number of voucher holders seeking rental properties is likely to be smaller compared to areas with a higher concentration of renters. Landlords should anticipate tenants who value stability and are looking for affordable housing options within a community that generally favors homeownership.
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.