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 | $1,630 |
| 1 Bedroom | $1,790 |
| 2 Bedrooms | $2,240 |
| 3 Bedrooms | $2,690 |
| 4 Bedrooms | $2,970 |
| 5 Bedrooms | $3,445 |
| 6 Bedrooms | $3,858 |
| 7 Bedrooms | $4,167 |
| 8 Bedrooms | $4,375 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,690 | $562,483 | 0.48% | F |
| 4BR | $2,970 | $692,648 | 0.43% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 08884 in fiscal year 2024 is set at $1730. This figure represents the maximum amount that a landlord can receive through the Section 8 program for renting out a unit in this area. It's important to note that this is not the rent you should charge your tenants; rather, it's the benchmark used by the housing authority to determine how much they will pay on behalf of eligible tenants.
To put this into perspective, the average rent for ZIP code 08884, according to the Census Bureau's American Community Survey (ACS), is $1,079. This means that the FMR is significantly higher than the typical market rate, which could be advantageous for landlords participating in the Section 8 program.
The 13.8% of residents who are renters suggests there is a moderate demand for rental properties in this area. However, the success of your Section 8 rental will also depend on the number of eligible applicants and the competition among landlords. The higher FMR compared to the average rent indicates that there might be a good opportunity to fill vacancies with Section 8 tenants.
If you're considering purchasing a property to rent under the Section 8 program, the median home value in ZIP code 08884 is around $563,252. This is the approximate price you would expect to pay for an existing property in the area. Keep in mind that this figure does not account for potential renovations or improvements needed to meet Section 8 standards.
Before committing to a Section 8 rental, it's crucial to verify that the property meets all necessary requirements. Specifically, ensure that the property complies with the Housing Quality Standards (HQS) set by the Department of Housing and Urban Development (HUD). These standards cover safety and habitability issues such as heating, plumbing, and structural integrity.
In summary, the FMR of $1730 for ZIP code 08884 provides a financial floor for landlords participating in the Section 8 program, exceeding the local average rent of $1,079. With a renter share of 13.8%, there is a reasonable demand for rentals, and the median home value of $563,252 gives you an idea of the initial investment required. Make sure your property meets HQS to avoid delays in getting approved for the program.
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.