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 | $1,510 |
| 1 Bedroom | $1,670 |
| 2 Bedrooms | $2,060 |
| 3 Bedrooms | $2,640 |
| 4 Bedrooms | $2,920 |
| 5 Bedrooms | $3,387 |
| 6 Bedrooms | $3,793 |
| 7 Bedrooms | $4,096 |
| 8 Bedrooms | $4,301 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,060 | $417,374 | 0.49% | F |
| 3BR | $2,640 | $526,149 | 0.5% | F |
| 4BR | $2,920 | $832,803 | 0.35% | F |
| 5BR | $3,387 | $1,171,101 | 0.29% | F |
U.S. Census Bureau data (2024)
The dynamics of the Toms River, NJ (ZIP 08755) real estate market reveal a scenario where demand closely follows supply, yet there are signs that tenants are under increasing pressure. The Fair Market Rent (FMR) for ZIP 08755 in fiscal year 2024 is set at $1750, which is notably lower than the Zillow Observed Rental Index (ZORI) of $3,369. This disparity suggests that market rents are significantly higher than what is considered fair by HUD standards, indicating strong rental demand.
A 0.2% price-cut share and a 40-day days-on-market (DOM) figure suggest that while some price adjustments are necessary, they are minimal and properties are moving relatively quickly. This points to a balanced market where neither buyers nor sellers have overwhelming leverage. However, the median home value of $522,131 places homeownership out of reach for many potential buyers, thereby sustaining high rental demand.
The 17.8% renter share is critical in understanding the long-term housing pressures. This percentage is relatively low, implying that the majority of residents prefer or are able to purchase homes. Yet, the fact that market rents exceed the FMR by nearly double indicates that those who do rent are likely facing significant financial strain. As a result, landlords can expect steady demand from renters, but should also be prepared for occasional market fluctuations driven by changes in affordability and availability.
In summary, Toms River presents a market where rental prices are high relative to fair market values, suggesting a tight rental market with sustained demand. The low renter share and quick sales pace indicate a stable environment for both landlords and small-portfolio investors, with opportunities to capitalize on the ongoing need for affordable housing.
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.