Location: Atlantic City-Hammonton, NJ | Metro: Atlantic City-Hammonton, NJ HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,480 |
| 1 Bedroom | $1,660 |
| 2 Bedrooms | $2,000 |
| 3 Bedrooms | $2,590 |
| 4 Bedrooms | $2,870 |
| 5 Bedrooms | $3,329 |
| 6 Bedrooms | $3,728 |
| 7 Bedrooms | $4,026 |
| 8 Bedrooms | $4,227 |
U.S. Census Bureau data (2024)
The ZIP code 08346, which includes Newtonville, NJ, has an average market rent of $3,150 per month as of December 2025. This figure stands in stark contrast to the Fair Market Rent (FMR) set by HUD for the same area in fiscal year 2024, which is $1,740. The gap between these two figures is $1,410, representing a significant disparity of approximately 81%.
In this context, with a median home value of $318,949 and a median income of $80,381, the FMR is notably lower than the market rent. This means that landlords who accept Section 8 vouchers will be renting their properties below the open-market rate. While the voucher program ensures stable and timely rent payments, the substantial difference between the FMR and market rent can lead to reduced profitability for landlords.
Given the high median home value and relatively modest median income, the rental market in 08346 is likely skewed towards higher-end properties. Landlords must carefully consider the long-term financial implications of accepting Section 8 tenants, especially when the FMR falls significantly short of the market rent. The decision to participate in the voucher program should weigh the benefits of guaranteed income against the potential loss of yield.
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.