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 | $2,040 |
| 1 Bedroom | $2,200 |
| 2 Bedrooms | $2,740 |
| 3 Bedrooms | $3,260 |
| 4 Bedrooms | $3,660 |
| 5 Bedrooms | $4,246 |
| 6 Bedrooms | $4,756 |
| 7 Bedrooms | $5,136 |
| 8 Bedrooms | $5,393 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,740 | $439,809 | 0.62% | D |
| 3BR | $3,260 | $537,553 | 0.61% | D |
| 4BR | $3,660 | $604,508 | 0.61% | D |
U.S. Census Bureau data (2024)
2310 The Fair Market Rent (FMR) for ZIP code 08863, which includes Fords, NJ, is set at $2310 for fiscal year 2024. 2050 This contrasts with the actual market rent, known as ZORI, which stands at $2,050. 531087 The median home value in the area is $531,087, indicating a stable housing market. 283 In Fords, NJ, 28.3% of residents are renters, showing a significant portion of the population relies on rental properties. 115861 With a median income of $115,861, tenants in this area are likely to be financially capable of meeting higher rental costs. N/A The average days on market (DOM) for rentals is not available, but the low price-cut share of 0.2% suggests that listings are generally competitive and priced correctly. 2310 Given these figures, landlords and small-portfolio investors can confidently set their rents close to the FMR without fear of high vacancy rates. 2050 However, keeping an eye on the market rent can help ensure competitiveness and occupancy. 531087 The median home value also supports the notion that the area is desirable and has strong property values, which benefits long-term real estate investments. 283 The substantial renter share indicates a steady demand for rental units. 115861 High median incomes suggest a lower risk of default among tenants. 2310 For those considering Section 8 participation, the FMR provides a benchmark for setting rents that align with government guidelines. 2050 Market conditions, however, might allow for slightly higher rents than the FMR. 531087 The robust median home value supports the idea that the area is economically sound and attractive to both renters and homeowners. 283 The significant percentage of renters in the community signals a healthy rental market. 115861 Investors should take comfort in the financial stability of potential tenants. 2310 Participation in Section 8 can provide a steady stream of income, though it requires adherence to specific regulations and standards. 2050 Balancing between market conditions and government guidelines will be key to successful investment. 2310 Verdict: Section 8 is viable in Fords, NJ, with careful consideration of local market dynamics and government rent limits.
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.