Location: Philadelphia-Camden-Wilmington, PA | 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 | $1,290 |
| 1 Bedroom | $1,420 |
| 2 Bedrooms | $1,760 |
| 3 Bedrooms | $2,260 |
| 4 Bedrooms | $2,500 |
| 5 Bedrooms | $2,900 |
| 6 Bedrooms | $3,248 |
| 7 Bedrooms | $3,508 |
| 8 Bedrooms | $3,683 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,420 | $90,713 | 1.57% | A+ |
| 2BR | $1,760 | $266,509 | 0.66% | D |
| 3BR | $2,260 | $548,629 | 0.41% | F |
| 4BR | $2,500 | $627,786 | 0.4% | F |
| 5BR | $2,900 | $736,494 | 0.39% | F |
U.S. Census Bureau data (2024)
Toms River, NJ, zip code 08759, is part of a suburban neighborhood with a total population of 34,237. The area has a relatively low percentage of renters at 11.3%, indicating a primarily owner-occupied community. The median household income in this region is $52,178, which places it squarely within the middle-income bracket. The median home value stands at $274,758, reflecting a moderate cost of living compared to other parts of New Jersey.
The Federal Market Rent (FMR) for zip code 08759 in fiscal year 2024 is set at $1,490. This figure is notably higher than the reported market rent of $1,268 based on Census ACS data. This discrepancy suggests that properties participating in the Section 8 program can command higher rents than the average market rate, providing a potential financial advantage for landlords who choose to accept vouchers.
Given these economic conditions, Toms River's ZIP 08759 could be a suitable location for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the guaranteed rental income through the Section 8 program, coupled with the higher FMR, offers a stable and predictable revenue stream. On the other hand, for value-add buyers looking to renovate and improve properties, the opportunity to increase rents to the FMR level while benefiting from government subsidies makes this area attractive for investment and growth.
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.