Location: Trenton-Princeton, NJ | Metro: Trenton-Princeton, NJ MSA
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 | $1,610 |
| 1 Bedroom | $1,820 |
| 2 Bedrooms | $2,310 |
| 3 Bedrooms | $2,820 |
| 4 Bedrooms | $3,170 |
| 5 Bedrooms | $3,677 |
| 6 Bedrooms | $4,118 |
| 7 Bedrooms | $4,447 |
| 8 Bedrooms | $4,669 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,310 | $307,827 | 0.75% | D |
| 3BR | $2,820 | $441,475 | 0.64% | D |
| 4BR | $3,170 | $558,524 | 0.57% | F |
| 5BR | $3,677 | $612,601 | 0.6% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 08628, Ewing, New Jersey, for fiscal year 2024 is set at $2050. This figure represents the maximum amount that a landlord can charge for a Section 8 rental unit in this area. It's important to note that this is not the rent that tenants will pay; rather, it's the ceiling for the combined tenant contribution and the housing assistance payment made by the government.
In comparison, the average rent for the same ZIP code according to the Census American Community Survey is $1,775. This indicates that the FMR is slightly higher than the typical market rent, which could be beneficial for landlords participating in the Section 8 program as they may receive a higher rent payment than what is currently being charged on average.
The 40.5% share of renters in Ewing suggests a moderate demand for rental properties. While not extremely high, this percentage points to a significant portion of the population relying on rentals, including those who might seek out Section 8 units. The median home value in the area is around $427,022, reflecting the overall cost of acquiring property in Ewing. For a Section 8 rental, you should expect to see lower property values since these units are typically rented rather than owned.
Before proceeding with a Section 8 rental, one key verification step is essential: ensure that your property meets all the required quality standards set by the Housing Quality Standards (HQS). These standards cover a range of issues, from structural integrity to safety features, and failing to meet them can result in penalties or removal from the program. A thorough inspection by a Section 8 representative is mandatory to confirm compliance.
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.