Section 8 Fair Market Rent (FMR) for ZIP 08550 - 2027

Location: Trenton-Princeton, NJ | Metro: Trenton-Princeton, NJ MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$2,340
1 Bedroom	$2,640
2 Bedrooms	$3,360
3 Bedrooms	$4,110
4 Bedrooms	$4,620
5 Bedrooms	$5,359
6 Bedrooms	$6,002
7 Bedrooms	$6,482
8 Bedrooms	$6,806

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

21,067

Median Household Income

$224,213

Housing Units

7,941

Renter Percentage

23.9%

Occupancy Rate

98.4%

Renter Occupied

1,872

Housing Authorities Serving ZIP 08550

STATE OF NJ DEPT. OF COMM. AFFAIRS (Trenton, NJ) - 25,297 Section 8 vouchers
Hamilton Township HA (Hamilton, NJ) - 227 Section 8 vouchers
Trenton Housing Authority (Trenton, NJ)
Hightstown Housing Authority (Hightstown, NJ)
Princeton Housing Authority (Princeton, NJ)

Princeton Junction, NJ, located in ZIP code 08550, is a highly desirable suburban area known for its proximity to Princeton University and its affluent demographic. The town offers excellent schools, vibrant community life, and convenient access to major transportation hubs, making it an attractive location for both renters and homeowners.

The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 08550 for fiscal year 2024 is set at $3000.
The average market rent for a two-bedroom unit, based on Census American Community Survey (ACS) data, stands at $2,584.
The median home value in the area is significantly high at $1,000,602, reflecting the premium placed on housing in this affluent region.
Renters make up 23.9% of the population, indicating a substantial demand for rental properties.
The median household income in ZIP 08550 is $224,213, suggesting that residents have strong financial stability and can afford higher rents and property values.

The combination of high median incomes and a significant renter share points to a robust rental market in Princeton Junction. Despite the disparity between the FMR and the actual market rent, the latter still represents a lucrative opportunity for landlords and small-portfolio investors. The high median home value underscores the overall desirability of the area, which can translate into steady demand and appreciation for rental properties over time.

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.