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 | $1,650 |
| 1 Bedroom | $1,820 |
| 2 Bedrooms | $2,250 |
| 3 Bedrooms | $2,890 |
| 4 Bedrooms | $3,190 |
| 5 Bedrooms | $3,700 |
| 6 Bedrooms | $4,144 |
| 7 Bedrooms | $4,476 |
| 8 Bedrooms | $4,700 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,820 | $244,512 | 0.74% | D |
| 2BR | $2,250 | $345,257 | 0.65% | D |
| 3BR | $2,890 | $522,049 | 0.55% | F |
| 4BR | $3,190 | $659,551 | 0.48% | F |
| 5BR | $3,700 | $825,611 | 0.45% | F |
U.S. Census Bureau data (2024)
Toms River (08753) serves as a major economic hub in Ocean County, offering a balanced mix of suburban residential neighborhoods and commercial corridors. The township is anchored by significant institutions such as Community Medical Center, one of the largest hospitals in the region, which provides a steady base of local employment and supports the area’s service-oriented economy. Beyond healthcare, the township features extensive parkland and access to the Barnegat Bay, reinforcing its reputation as a family-friendly environment with solid recreational infrastructure.
From a quantitative perspective, the rental math reveals a challenging landscape for voucher acceptance. The FY2024 HUD SAFMR for a 2-bedroom unit sits at $1,910, while the projected FY2026 full FMR rises to $2,300. This significantly trails the current market rent (Zillow ZORI) of $2,666, creating a strict cash-flow gap of $756 per month if you rely solely on the 2026 payment standard. For investors looking at acquisition, the median home value is $533,783, though a specific 2-bedroom property trades lower at a median of $337,420. Homes are moving at a moderate pace, with a median of 45 days on market, indicating neither a frenzy nor a stagnant environment.
Despite the tight rent caps, the tenant profile remains attractive for long-term holds. With a renter share of just 18.3%, Toms River is predominantly owner-occupied, which usually correlates with stable neighborhoods. The median household income is robust at $105,224, suggesting that even renters earning below this threshold often have reliable income sources. This financial stability is bolstered by the township’s highly rated public school system and proximity to major roadways like the Garden State Parkway, ensuring consistent demand from families who prioritize education and commute flexibility.
The Section 8 verdict for 08753 leans toward an appreciation play rather than immediate cash flow. The sizable gap between the $2,300 FMR and $2,666 market rent implies that standard voucher tenants cannot cover top-market rates without supplemental income. However, the high median home values and solid area infrastructure suggest that property appreciation will likely outpace rental yield over time. Investors should target this area for wealth preservation and long-term growth, accepting that voucher premiums may be necessary to bridge the rent gap in the short term.
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.