Location: Middlesex-Somerset-Hunterdon, NJ | Metro: Middlesex-Somerset-Hunterdon, NJ HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,050 |
| 1 Bedroom | $2,280 |
| 2 Bedrooms | $2,890 |
| 3 Bedrooms | $3,500 |
| 4 Bedrooms | $3,940 |
| 5 Bedrooms | $4,570 |
| 6 Bedrooms | $5,118 |
| 7 Bedrooms | $5,527 |
| 8 Bedrooms | $5,803 |
U.S. Census Bureau data (2024)
The ZIP code 08528, located in Cumberland County, New Jersey, has a unique profile that sets it apart from other areas. With only 321 residents, it stands out as a small community where rental activity accounts for just 8.7% of the housing market. Despite the limited data available, including the absence of median income and median home value figures, the Federal Market Rent (FMR) for the area provides valuable insight into the rental market dynamics.
The FMR for ZIP 08528 in fiscal year 2024 is set at $2710. This figure is crucial for landlords and small-portfolio investors as it reflects the maximum amount that can be charged to tenants participating in the Section 8 Housing Choice Voucher program. Given the lack of current market rent data, the FMR serves as a benchmark for understanding the potential rental income in this ZIP code. It is important to note that the FMR does not necessarily represent the actual market rent but is adjusted to ensure affordability for low-income families.
In terms of economic stability, the data signature for ZIP 08528 reads as transitional. The small population and low percentage of renters suggest a community that may be undergoing changes, possibly due to shifts in local demographics or economic conditions. The scarcity of detailed economic data points to an area that might be evolving, making it challenging to predict long-term trends without further information. Landlords and investors should monitor future updates closely to assess the direction of the market and adjust their strategies accordingly.
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.