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 | $1,720 |
| 1 Bedroom | $1,900 |
| 2 Bedrooms | $2,350 |
| 3 Bedrooms | $3,010 |
| 4 Bedrooms | $3,340 |
| 5 Bedrooms | $3,874 |
| 6 Bedrooms | $4,339 |
| 7 Bedrooms | $4,686 |
| 8 Bedrooms | $4,920 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,350 | $916,861 | 0.26% | F |
| 3BR | $3,010 | $1,099,245 | 0.27% | F |
| 4BR | $3,340 | $1,412,506 | 0.24% | F |
| 5BR | $3,874 | $1,765,856 | 0.22% | F |
U.S. Census Bureau data (2024)
The ZIP code 08736, located in Manasquan, NJ, has a population of 13,223, with only 11.5% of residents being renters. This indicates that it is primarily a homeowner-dominated area rather than a renter-heavy zone. Given the median household income of $174,097, the typical market rent of $8,313 per year consumes approximately 4.7% of the average local income. In contrast, the Fair Market Rent (FMR) for FY 2024 is set at $1,750 per month, which is significantly lower than the actual market rent.
This disparity between FMR and market rent suggests that Section 8 vouchers are less likely to cover the cost of housing in this area. The demand for vouchers among renters is likely to be high due to the limited supply, but the overall number of potential tenants using Section 8 will be relatively low given the small percentage of renters in the community.
A landlord in Manasquan, NJ, can expect tenants who are financially stable and have a higher likelihood of paying rent on time, given the strong local economy and high median income. However, these tenants may face challenges in finding affordable rental properties that align with their voucher amounts. Landlords should be prepared to either adjust their rental pricing closer to the FMR or accept that Section 8 tenants may represent a smaller portion of their rental pool compared to areas with a larger percentage of renters.
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.