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 | $1,420 |
| 1 Bedroom | $1,570 |
| 2 Bedrooms | $1,940 |
| 3 Bedrooms | $2,490 |
| 4 Bedrooms | $2,750 |
| 5 Bedrooms | $3,190 |
| 6 Bedrooms | $3,573 |
| 7 Bedrooms | $3,859 |
| 8 Bedrooms | $4,052 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,940 | $610,593 | 0.32% | F |
| 3BR | $2,490 | $955,757 | 0.26% | F |
| 4BR | $2,750 | $1,229,879 | 0.22% | F |
| 5BR | $3,190 | $1,511,997 | 0.21% | F |
U.S. Census Bureau data (2024)
In Seaside Park, New Jersey, which is located in ZIP code 08752, the median household income stands at $78,750 according to recent Census ACS data. This figure provides a benchmark against which the local rental market can be evaluated. The market rate for rentals in Seaside Park is reported to be $1,640 per month, indicating that the average household would spend approximately 25.9% of their annual income on rent alone if they were renting at this rate.
The Federal Market Rent (FMR) for ZIP 08752 in fiscal year 2024 is set at $1,710. This means that households receiving housing vouchers could potentially have a higher budget for rent compared to the market rate, closing the affordability gap slightly but still requiring a significant portion of their income.
With only 18.0% of the 2,338 population being renters, competition among landlords is likely to be intense. Landlords must consider both the number of potential renters and their ability to pay the market rate or accept voucher payments. Given the relatively low percentage of renters, securing tenants who can afford the market rate or who have vouchers that cover the FMR is critical for maintaining occupancy rates and financial stability.
The takeaway for landlords considering voucher versus cash-pay strategies is clear: while the FMR of $1,710 is slightly above the market rate of $1,640, it remains within reach for many households. However, landlords should be prepared for a competitive market where attracting and retaining tenants requires a balance between accepting vouchers and relying on cash-paying tenants. Understanding the local income levels and the specific needs of the rental market will be key to making informed decisions about rental pricing and tenant acquisition strategies.
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.