Location: Trenton-Princeton, NJ | Metro: Middlesex-Somerset-Hunterdon, 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 | $1,950 |
| 1 Bedroom | $2,100 |
| 2 Bedrooms | $2,620 |
| 3 Bedrooms | $3,120 |
| 4 Bedrooms | $3,500 |
| 5 Bedrooms | $4,060 |
| 6 Bedrooms | $4,547 |
| 7 Bedrooms | $4,911 |
| 8 Bedrooms | $5,157 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $3,120 | $821,729 | 0.38% | F |
| 4BR | $3,500 | $1,168,171 | 0.3% | F |
| 5BR | $4,060 | $1,602,671 | 0.25% | F |
U.S. Census Bureau data (2024)
The ZIP code 08558 is primarily a homeowner-dominated area rather than a renter-heavy zone, given that only 13.8% of the population are renters. With a total population of 7,648, this indicates that there are approximately 1,059 rental units in the area. The deep voucher demand typically seen in areas with higher percentages of renters is not present here.
The median household income in ZIP 08558 is $236,016, which is significantly higher than the national average. A market rent of $2,000 would represent less than 1% of the median household income, making it relatively affordable for the majority of residents. This contrasts sharply with the Fair Market Rent (FMR) of $2,510 for FY 2024, indicating that properties renting at $2,000 could be more attractive to tenants in this area.
To put this into perspective, a household earning the median income would spend about 0.84% of their income on rent at the $2,000 level, compared to 1.06% at the FMR. This makes the $2,000 rent point more appealing, especially considering the higher income levels in the area.
A landlord in ZIP 08558 can expect tenants who are financially stable and likely to have good credit histories, given the high median income. These tenants are also more likely to be able to afford market rents without needing government assistance, as the percentage of income required for rent is minimal.
While the ZIP code has a strong economy and residents with high incomes, the number of Section 8 vouchers is limited due to the low percentage of renters. Landlords should prepare for a tenant pool that is largely self-sufficient in terms of rent payments, with fewer applicants relying on housing vouchers.
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.