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 08870, located in Readington, NJ, exhibits characteristics that position it as a steady-cashflow zone rather than a high-yield/low-stability market. Based on the Fair Market Rent (FMR) for fiscal year 2024, the FMR is set at $2150, which is a key benchmark for rental pricing.
The median household income in Readington, NJ is $43,870, and the median rent has seen a significant increase over the past five years, rising from $824 to $1,188, a change of +44.2%. This suggests a growing demand for rental properties, but the income levels indicate a relatively stable tenant base. The median home value is $229,878, showing a 19.6% increase over the last five years, which aligns with a moderate growth trend.
With a safety score of 86/100, indicating low crime rates, and an overall livability score of 68/100, Readington offers a balanced environment for both homeowners and renters. The unemployment rate stands at 7.3%, slightly above the national average, but the employment rate is 95.5%, suggesting a robust job market.
In summary, ZIP 08870 is best classified as a steady-cashflow zone due to its moderate rental and home value increases, coupled with a stable tenant base and low crime rates. Landlords and small-portfolio investors can expect consistent returns with less risk compared to high-yield markets.
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.