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 | $2,150 |
| 1 Bedroom | $2,320 |
| 2 Bedrooms | $2,890 |
| 3 Bedrooms | $3,440 |
| 4 Bedrooms | $3,870 |
| 5 Bedrooms | $4,489 |
| 6 Bedrooms | $5,028 |
| 7 Bedrooms | $5,430 |
| 8 Bedrooms | $5,702 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $3,440 | $559,897 | 0.61% | D |
| 4BR | $3,870 | $619,051 | 0.63% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 08830 in fiscal year 2024 is set at $2,620. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program. It's important to note that this is not the actual rent you will receive; it's the benchmark used to determine eligibility and payment standards.
In comparison, the local Zillow Observed Rental Index (ZORI) for the same area stands at $2,840. This means that while the FMR is slightly below the market rate, it still provides a reasonable estimate of what renters can afford. The difference between the FMR and ZORI indicates that there might be some flexibility in setting your rent, but remember, the final rent must be approved by the housing authority and cannot exceed the FMR.
The 34.7% share of renters in the area suggests a strong demand for affordable housing. With a significant portion of the population relying on rental assistance, landlords who participate in the Section 8 program can expect steady occupancy rates. However, the average acquisition cost for a property in this ZIP code is approximately $559,721. This figure should be considered when evaluating the potential profitability of a Section 8 rental investment.
Before committing to a Section 8 rental, verify that the property meets all the required safety and habitability standards set by the housing authority. These standards ensure that the living conditions are suitable for tenants and can help avoid costly disputes or penalties down the line.
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.