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 08885 in Middlesex-Somerset-Hunterdon County, NJ, stands out due to a lack of comprehensive data on its resident demographics, rental rates, median income, and median home values. This scarcity of detailed local statistics makes it challenging to provide a precise economic profile of the area.
However, the Section 8 program offers some clarity through its Fair Market Rent (FMR) guidelines. For fiscal year 2024, the FMR for ZIP 08885 is set at $2150. This figure is crucial for landlords and small-portfolio investors as it dictates the maximum rental amount that can be subsidized under the program. Without specific local market rent data, the FMR serves as a benchmark for understanding the rental subsidy landscape in this ZIP code.
The voucher economics in ZIP 08885, therefore, rely heavily on the FMR. Landlords should be aware that this subsidy level may not fully reflect the actual market conditions, especially if the local rents significantly deviate from the FMR. The absence of local market data means that investors must look to broader county or state averages to gauge how the FMR compares to typical rental prices.
Given the incomplete data signature for ZIP 08885, it is difficult to classify the area as either stable or transitional. Typically, areas with a high percentage of renters or significant fluctuations in median income and home values would indicate a transitional market. Conversely, stable markets often have consistent demographic and economic indicators over time. Until more specific data becomes available, landlords and investors should proceed with caution and monitor broader trends in the region.
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.