Location: Monmouth-Ocean, NJ | Metro: Monmouth-Ocean, 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 | $1,510 |
| 1 Bedroom | $1,660 |
| 2 Bedrooms | $2,060 |
| 3 Bedrooms | $2,630 |
| 4 Bedrooms | $2,910 |
| 5 Bedrooms | $3,376 |
| 6 Bedrooms | $3,781 |
| 7 Bedrooms | $4,083 |
| 8 Bedrooms | $4,287 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,060 | $415,253 | 0.5% | F |
| 3BR | $2,630 | $582,858 | 0.45% | F |
| 4BR | $2,910 | $901,399 | 0.32% | F |
| 5BR | $3,376 | $1,093,053 | 0.31% | F |
U.S. Census Bureau data (2024)
The real estate market in ZIP 08514, Cream Ridge, NJ, presents a compelling setup for both landlords and small-portfolio investors. The median home value stands at $711,706, indicating a robust residential property base. While the percentage of listings that have been reduced and the median days on market (DOM) are currently unavailable, the high median home value suggests strong pricing power over the next 12-24 months.
The disparity between the Fair Market Rent (FMR) of $1,930 for ZIP 08514 in fiscal year 2024 and the current market rent of $1,444, as reported by the Census Bureau's American Community Survey, signals a potential upward trend in rental rates. This gap suggests that there is room for landlords to increase rents without losing tenants, particularly as the area continues to develop and attract residents.
For long-hold investors, the setup in Cream Ridge, NJ, supports a realistic appreciation thesis. The median home value is likely to continue growing due to the area's desirability, which is reflected in the higher FMR. As the local economy strengthens and demand for housing increases, the value of properties will rise, providing a solid foundation for capital appreciation. Additionally, the potential for rental rate increases can enhance cash flow, making it an attractive investment for those looking to generate income from their properties.
The combination of high median home values and the underpriced rental market relative to the FMR indicates a favorable environment for real estate investments. Landlords and investors can expect to benefit from increased rental income and potential growth in property values, aligning well with a strategy focused on long-term holding and appreciation.
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.