Location: Monmouth-Ocean, NJ | Metro: Monmouth-Ocean, 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 | $2,470 |
| 1 Bedroom | $2,730 |
| 2 Bedrooms | $3,380 |
| 3 Bedrooms | $4,330 |
| 4 Bedrooms | $4,800 |
| 5 Bedrooms | $5,568 |
| 6 Bedrooms | $6,236 |
| 7 Bedrooms | $6,735 |
| 8 Bedrooms | $7,072 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $3,380 | $792,487 | 0.43% | F |
| 3BR | $4,330 | $1,250,612 | 0.35% | F |
| 4BR | $4,800 | $1,557,702 | 0.31% | F |
| 5BR | $5,568 | $1,976,921 | 0.28% | F |
U.S. Census Bureau data (2024)
To determine if a landlord should invest in ZIP 08730 (Brielle, NJ) for Section 8 properties, follow these steps:
Step 1: Does the Fair Market Rent (FMR) of $2870 cover the debt service on a $1,261,639 property?
No: The FMR of $2870 does not sufficiently cover the debt service on a property valued at $1,261,639. This indicates that the rental income from a Section 8 tenant would not be enough to meet the financial obligations associated with owning such a high-value property.
Yes: Proceed to Step 2.
Step 2: Is the market rent of $2,726 above, at, or below the FMR?
Above: The market rent is below the FMR. This means that the rental income from a non-Section 8 tenant could be lower than what the government will pay under the Section 8 program, making Section 8 potentially more attractive.
At or Below: The market rent is slightly below the FMR, indicating that the Section 8 rent is higher than the average market rent. However, this alone does not guarantee investment success; proceed to Step 3.
Step 3: Are 9.5% renters and N/A-day days on market (DOM) enough demand for Section 8 properties?
It Depends: With only 9.5% of residents being renters, the overall demand for rental properties is low. Additionally, the lack of data on days on market (DOM) makes it difficult to assess how quickly properties are rented out. However, if the landlord can secure a Section 8 voucher holder who needs housing in the area, then the investment could still be viable. It is crucial to understand the specific dynamics of the local Section 8 program and the availability of vouchers.
In summary, the decision to invest in ZIP 08730 for Section 8 properties hinges on the ability to manage a property valued at $1,261,639 with an FMR of $2870. Given that the market rent is slightly below the FMR, Section 8 might offer better financial stability. However, the low percentage of renters and unclear DOM data suggest limited demand, making the investment dependent on the landlord's ability to attract and retain Section 8 tenants.
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.