ZIP 08533 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 08533 in the Monmouth-Ocean, NJ FMR area.

Monmouth-Ocean, NJ

$1,540Efficiency
$1,7001 bedroom
$2,1002 bedrooms
$2,6903 bedrooms
$2,9804 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,540$1,386$1,694$1,671
1 bedroom$1,700$1,530$1,870$1,847
2 bedrooms$2,100$1,890$2,310$2,283
3 bedrooms$2,690$2,421$2,959$2,927
4 bedrooms$2,980$2,682$3,278$3,241

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA

$1,540Efficiency
$1,7001 bedroom
$2,1002 bedrooms
$2,6903 bedrooms
$2,9804 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,540$1,386$1,694$1,438
1 bedroom$1,700$1,530$1,870$1,558
2 bedrooms$2,100$1,890$2,310$1,860
3 bedrooms$2,690$2,421$2,959$2,216
4 bedrooms$2,980$2,682$3,278$2,445

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Income in ZIP 08533

$92,588average adjusted gross income per tax return (2022)
$68,076average salaries and wages per return
3,840tax returns filed
27%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00021.4%
$25,000 to $50,00018.8%
$50,000 to $75,00014.1%
$75,000 to $100,00010.7%
$100,000 to $200,00025.8%
$200,000 or more9.4%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 6.8% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 08533?

HUD's FY2027 Small Area FMRs for ZIP 08533 (Monmouth-Ocean, NJ) are $1,540 efficiency, $1,700 one bedroom, $2,100 two bedrooms, $2,690 three and $2,980 four bedrooms.

What payment standard can a housing authority set in ZIP 08533?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,890 to $2,310.

How affordable is rent in ZIP 08533?

Tax returns filed from ZIP 08533 reported an average adjusted gross income of $92,588 (2022). A two-bedroom unit at the Small Area FMR costs $25,200 a year, or 27% of that income.