Location: Atlantic City-Hammonton, 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 | $2,070 |
| 1 Bedroom | $2,350 |
| 2 Bedrooms | $2,850 |
| 3 Bedrooms | $3,870 |
| 4 Bedrooms | $4,280 |
| 5 Bedrooms | $4,965 |
| 6 Bedrooms | $5,561 |
| 7 Bedrooms | $6,006 |
| 8 Bedrooms | $6,306 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,850 | $1,041,380 | 0.27% | F |
| 3BR | $3,870 | $1,472,450 | 0.26% | F |
| 4BR | $4,280 | $2,052,594 | 0.21% | F |
| 5BR | $4,965 | $3,249,879 | 0.15% | F |
U.S. Census Bureau data (2024)
Longport, NJ, located in ZIP code 08403, is a residential neighborhood with a total population of 1,046 residents. Only 8.2% of these residents are renters, indicating a primarily owner-occupied community. The median household income in this area is a robust $110,625, reflecting a relatively affluent demographic. Furthermore, the median home value stands at an impressive $1,459,875, which underscores the high-end nature of the housing stock.
From an investment perspective, the Federal Market Rent (FMR) for ZIP code 08403 in fiscal year 2024 is set at $2,510. This figure closely aligns with the market rent reported by the Census Bureau's American Community Survey (ACS), which is $2,514. This suggests that the rental market is well-calibrated with government standards, offering a stable environment for landlords and small-portfolio investors.
Given the characteristics of Longport, NJ, it is evident that this area is better suited for a hands-on value-add buyer rather than a hands-off voucher operator. The low percentage of renters and the high median home value indicate a market where properties can be improved and sold for significant gains. Moreover, the affluent demographic presents opportunities for higher-end rental properties or renovations that cater to the local income levels.
A hands-off approach might struggle due to the limited number of renters and the potential mismatch between voucher amounts and market rents. However, a hands-on strategy can leverage the area's economic strength to create added value through improvements, potentially attracting tenants willing to pay above the voucher rate. This targeted approach would likely yield better returns and align more effectively with the unique dynamics of Longport, NJ.
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.