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 | $1,410 |
| 1 Bedroom | $1,560 |
| 2 Bedrooms | $1,870 |
| 3 Bedrooms | $2,590 |
| 4 Bedrooms | $2,720 |
| 5 Bedrooms | $3,155 |
| 6 Bedrooms | $3,534 |
| 7 Bedrooms | $3,817 |
| 8 Bedrooms | $4,008 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,870 | $242,278 | 0.77% | D |
| 3BR | $2,590 | $353,891 | 0.73% | D |
| 4BR | $2,720 | $447,710 | 0.61% | D |
| 5BR | $3,155 | $501,134 | 0.63% | D |
U.S. Census Bureau data (2024)
The ZIP code 08361, located in Vineland, NJ, positions itself within the broader Vineland, NJ Metropolitan Statistical Area (MSA). When comparing the key metrics of 08361 to the typical ZIP codes within the Vineland, NJ MSA, several insights emerge.
The Fair Market Rent (FMR) for ZIP 08361 in fiscal year 2024 is set at $1620. This figure represents the benchmark used by the Department of Housing and Urban Development (HUD) for determining eligibility for Section 8 housing assistance. In contrast, the market rent for the same area is recorded at $1,379. This indicates that the subsidized rent through Section 8 is higher than the actual market rent, potentially making it an attractive option for landlords who can leverage the higher subsidy rates.
The median home value in ZIP 08361 is $350,445, which is likely reflective of the overall home value trend within the Vineland, NJ MSA. However, the significant renter share of 17.0% suggests a notable portion of the population relies on rental housing, which could be indicative of a mix of affordability and demand factors.
To determine if ZIP 08361 is a value pocket, mid-tier neighborhood, or a premium sub-market within the Vineland, NJ MSA, we must consider the interplay between these figures. Given the higher FMR compared to the market rent, and the substantial renter share combined with home values that align closely with the metro average, it can be inferred that 08361 is a value pocket within the MSA. Landlords in this area might find it particularly advantageous due to the potential for higher rents through Section 8 subsidies, despite lower overall market rents. This scenario often creates a sweet spot for Section 8 investments, where the balance of higher subsidies and lower market rents can lead to favorable returns.
It's important to note that while the market rent is lower than the FMR, the renter share being above average suggests strong demand for rental properties. This combination can make 08361 a strategic location for landlords and small-portfolio investors looking to capitalize on the Section 8 program, as the higher subsidy rate can offset the lower market rent and provide a steady stream of income.
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.