Section 8 Fair Market Rent (FMR) for ZIP 08348 - 2027

Location: Vineland, NJ | Metro: Vineland, NJ MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,260
1 Bedroom	$1,390
2 Bedrooms	$1,670
3 Bedrooms	$2,310
4 Bedrooms	$2,430
5 Bedrooms	$2,819
6 Bedrooms	$3,157
7 Bedrooms	$3,410
8 Bedrooms	$3,581

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

154

Median Household Income

$N/A

Housing Units

Renter Percentage

59.8%

Occupancy Rate

100.0%

Renter Occupied

The ZIP code 08348, located in Toms River, New Jersey, is situated in a region known for its coastal charm and suburban lifestyle. This area is attractive to both families and renters looking for a peaceful environment close to natural amenities such as parks and beaches.

Fair Market Rent (FMR) for ZIP 08348 in fiscal year 2024 is set at $1530: This figure represents the benchmark for rental prices in the area, indicating that properties should aim to be priced around this amount to remain competitive and meet the needs of low-income residents.
Renter Share is 59.8%: Over half of the households in this ZIP code are renters, highlighting a strong demand for rental properties and suggesting that landlords can expect steady occupancy rates.
Median Home Value is currently not available: While the exact median home value is unknown, the high renter share suggests that homeownership might be less prevalent, which could be due to higher property values or other economic factors.
Median Income data is not available: Without specific income data, it's challenging to assess the economic capacity of the residents, but the high renter share implies a mix of income levels, likely including those who benefit from Section 8 housing assistance.
Days on Market (DOM) data is not available: The absence of DOM data makes it difficult to gauge how quickly properties are being rented out, but the strong renter base indicates that properties are likely to be occupied without extended vacancies.

The analysis of ZIP 08348 shows a robust rental market with a significant portion of the population relying on rentals. Landlords and small-portfolio investors should focus on properties that can be rented at or near the Fair Market Rent of $1530 to cater to the local demand. Given the high renter share, there is a consistent need for affordable housing, making Section 8 vouchers a viable option for maintaining occupancy. However, the lack of specific data points regarding median home value, median income, and days on market leaves some uncertainty about the overall economic health and speed of leasing in the area. Despite these gaps, the current trends suggest a stable rental market that can support long-term investments for those willing to navigate the regulatory landscape associated with Section 8 properties.

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.