Location: Middlesex-Somerset-Hunterdon, NJ | Metro: Middlesex-Somerset-Hunterdon, 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 | $1,760 |
| 1 Bedroom | $1,890 |
| 2 Bedrooms | $2,360 |
| 3 Bedrooms | $2,810 |
| 4 Bedrooms | $3,160 |
| 5 Bedrooms | $3,666 |
| 6 Bedrooms | $4,106 |
| 7 Bedrooms | $4,434 |
| 8 Bedrooms | $4,656 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,360 | $315,346 | 0.75% | D |
| 3BR | $2,810 | $445,294 | 0.63% | D |
| 4BR | $3,160 | $588,737 | 0.54% | F |
U.S. Census Bureau data (2024)
The classification of ZIP 08829, High Bridge, NJ, on the axes of yield and stability reveals it as a moderate cash flow opportunity with some volatility. The Fair Market Rent (FMR) for the fiscal year 2024 is set at $1,980, which is notably higher than the market rent of $1,831. This suggests that properties in this area can command slightly above-market rents through Section 8, providing a modest yield advantage.
However, the stability of this market is less robust. With only 15.8% of residents being renters, the demand for rental properties is relatively low. Additionally, the median household income of $112,467 indicates a higher-income demographic that may prefer homeownership over renting. The average home value of $448,341 further supports this trend, as it implies an environment where purchasing a home might be more accessible to potential tenants.
The absence of data regarding the number of days on market (DOM) makes it challenging to assess the speed at which rental properties turn over. However, the combination of a low rental percentage and a high home value points towards a market that could experience fluctuations in tenant demand and turnover rates, reducing its overall stability.
In summary, ZIP 08829 offers a scenario where landlords and small-portfolio investors can achieve a decent yield through Section 8 but must be prepared for a less stable market environment characterized by lower rental demand and higher risks of vacancy or turnover.
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.