Location: Trenton-Princeton, NJ | Metro: Trenton-Princeton, NJ MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,560 |
| 1 Bedroom | $1,760 |
| 2 Bedrooms | $2,240 |
| 3 Bedrooms | $2,740 |
| 4 Bedrooms | $3,080 |
| 5 Bedrooms | $3,573 |
| 6 Bedrooms | $4,002 |
| 7 Bedrooms | $4,322 |
| 8 Bedrooms | $4,538 |
The ZIP code 08606 is situated in Trenton, New Jersey. Due to it being a PO Box ZIP code, specific demographic data such as population, percentage of renters, median income, and median home value are not available. However, the broader context of Trenton provides valuable insights.
Trenton, where ZIP 08606 is located, is a city with a mix of residential and commercial properties. While detailed figures are unavailable for this particular ZIP code, the overall economic landscape of Trenton suggests a diverse community with varying levels of income and housing needs.
Moving into the realm of rent economics, the Fair Market Rent (FMR) for ZIP 08606 in fiscal year 2024 is set at $2000. This figure represents the average rent cost for a typical unit in the area, which is used by the Housing Choice Voucher program, commonly known as Section 8, to determine payment standards.
The lack of specific market rent data for ZIP 08606 makes direct comparison challenging. However, given the FMR of $2000, landlords and small-portfolio investors should consider this benchmark when setting rent prices for Section 8 eligible units.
Does ZIP 08606 suit a hands-off voucher operator or a hands-on value-add buyer? The answer lies in the broader market dynamics and individual investment strategies. A hands-off operator might find comfort in the predictability of FMR-based rents, while a value-add buyer would need to delve deeper into the local real estate market to identify opportunities for improvement and potential rent increases. Given the limited availability of detailed demographic data, a value-add strategy may require additional research into the surrounding neighborhoods and market conditions.
Note: The analysis is based on the Fair Market Rent of $2000 for ZIP 08606 in fiscal year 2024. Specific market rent figures were not available at the time of this report.
Data Sources: FMR data from HUD (2027).
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.