Location: Vineland, NJ | Metro: Vineland, NJ MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,450 |
| 1 Bedroom | $1,600 |
| 2 Bedrooms | $1,920 |
| 3 Bedrooms | $2,660 |
| 4 Bedrooms | $2,790 |
| 5 Bedrooms | $3,236 |
| 6 Bedrooms | $3,624 |
| 7 Bedrooms | $3,914 |
| 8 Bedrooms | $4,110 |
U.S. Census Bureau data (2024)
Vineland, NJ MSA metro, specifically ZIP code 08345, can be effectively integrated into a Section 8 portfolio strategy as a cash-flow anchor. The primary reason for this classification is the significant spread between the Fair Market Rent (FMR) and the median home value in the area. For fiscal year 2024, the FMR for ZIP 08345 is set at $1590. This figure represents the amount that the government deems sufficient to cover rental costs in the area without placing an undue financial burden on tenants.
The median home value in ZIP 08345 stands at $226,446. While the market rental price is currently not available, the FMR provides a reliable benchmark for assessing rental properties' viability within a Section 8 program. Given the FMR of $1590, landlords and small-portfolio investors can expect stable and predictable cash flow from Section 8 tenants. This makes ZIP 08345 a solid choice for those looking to minimize risk and ensure consistent returns on their investment.
The lack of specific data regarding price-cut shares and days on market (DOM) does not detract from the potential of ZIP 08345 as a cash-flow anchor. Instead, it highlights the importance of focusing on the guaranteed rental income provided by the Section 8 program. With a 5.1% renter share, the majority of residents in this ZIP code own their homes, indicating a stable community where long-term investments are likely to pay off.
The median income of $67,250 further supports the idea that ZIP 08345 is well-suited for a Section 8 portfolio. This income level suggests that many residents qualify for the Section 8 program, ensuring a steady pool of potential tenants. Additionally, the relatively low median income compared to the median home value indicates that rental properties can command a premium relative to the cost of homeownership, making them attractive to both landlords and tenants.
In summary, ZIP 08345 serves as a strong cash-flow anchor within a Section 8 portfolio strategy due to its favorable FMR setting and median home value. Landlords and small-portfolio investors can rely on the consistent rental income provided by the Section 8 program, while also benefiting from a stable and qualified tenant base.
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.