Location: Middlesex-Somerset-Hunterdon, NJ | Metro: Middlesex-Somerset-Hunterdon, NJ HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,810 |
| 1 Bedroom | $1,950 |
| 2 Bedrooms | $2,430 |
| 3 Bedrooms | $2,900 |
| 4 Bedrooms | $3,250 |
| 5 Bedrooms | $3,770 |
| 6 Bedrooms | $4,222 |
| 7 Bedrooms | $4,560 |
| 8 Bedrooms | $4,788 |
The ZIP code 08868 in Middlesex-Somerset-Hunterdon County, NJ, presents a unique opportunity for Section 8 investors. The HUD Fair Market Rent (FMR) for this area is set at $2150 for fiscal year 2024. However, without specific market rent data, it's challenging to provide a direct comparison. Based on the available HUD FMR, voucher tenants would likely cashflow at the FMR rate, indicating that properties rented at the FMR level can cover their expenses including mortgage, maintenance, and other operational costs.
The median home value in ZIP 08868 is not specified, which means we cannot calculate an exact rent-to-price ratio. This ratio is crucial for understanding the relative affordability of renting versus buying in the area. Despite the lack of this data, the presence of a stable HUD FMR suggests that there is a predictable income stream for landlords who participate in the Section 8 program.
Regarding the days on market (DOM) and price cut shares, both figures are not provided. These metrics are typically important for assessing the local real estate market dynamics. If the DOM is low and price cut shares are minimal, it indicates a strong seller's market where rental properties might be favored over homeownership due to lower entry barriers and predictability.
In summary, while precise market rent figures are missing, the consistent HUD FMR of $2150 provides a reliable benchmark for cashflow expectations. For investors, the strongest angle here is likely cashflow stability, given the predictable nature of the Section 8 program payments in this area.
Data Sources: FMR data from HUD (2027).
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.