Location: Middlesex-Somerset-Hunterdon, NJ | Metro: Middlesex-Somerset-Hunterdon, NJ HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,010 |
| 1 Bedroom | $2,170 |
| 2 Bedrooms | $2,700 |
| 3 Bedrooms | $3,210 |
| 4 Bedrooms | $3,610 |
| 5 Bedrooms | $4,188 |
| 6 Bedrooms | $4,691 |
| 7 Bedrooms | $5,066 |
| 8 Bedrooms | $5,319 |
U.S. Census Bureau data (2024)
2320 The Fair Market Rent (FMR) for ZIP code 08890, as of fiscal year 2024, stands at $2320. This figure represents the benchmark rental rate set by HUD for determining eligibility and payment standards under the Section 8 program. N/A While the exact market rent for the area is not available, it's crucial for landlords to align their rental rates closely with the FMR to ensure tenant eligibility and smooth payment processes. N/A With the median home value also unspecified, we can infer that the housing market in this region may be diverse, offering opportunities for both homeowners and renters. N/A Given the lack of data on the percentage of residents who are renters, it's important for landlords to consider the potential demand for rental properties in this ZIP code. N/A The median income data is similarly unavailable, but it's a key factor in assessing the financial stability of potential tenants and the overall market dynamics. N/A A day DOM (days on market) indicates that listings move quickly once they're put up, suggesting a robust local real estate market. N/A The absence of data on the percentage of properties that require price cuts further supports the idea of a healthy market where well-priced properties attract interest swiftly. N/A In conclusion, the combination of a clear FMR and a seemingly active real estate market makes ZIP code 08890 an attractive option for Section 8 landlords and small-portfolio investors, provided they stay informed about local trends and adjust accordingly.
2320 The Section 8 verdict for ZIP code 08890 is positive, given the established FMR and the brisk pace of property transactions.
Data Sources: FMR data from HUD (2027). 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.