ZIP 08751 Fair Market Rent FY2027
Small Area Fair Market Rents for ZIP code 08751 in the Monmouth-Ocean, NJ FMR area.
Payment standard range
| Unit size | SAFMR | 90% | 110% | Metro FMR |
|---|---|---|---|---|
| Efficiency | $1,350 | $1,215 | $1,485 | $1,671 |
| 1 bedroom | $1,500 | $1,350 | $1,650 | $1,847 |
| 2 bedrooms | $1,850 | $1,665 | $2,035 | $2,283 |
| 3 bedrooms | $2,370 | $2,133 | $2,607 | $2,927 |
| 4 bedrooms | $2,630 | $2,367 | $2,893 | $3,241 |
Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.
Income in ZIP 08751
| Adjusted gross income | Share of returns |
|---|---|
| $1 to $25,000 | 30.0% |
| $25,000 to $50,000 | 23.3% |
| $50,000 to $75,000 | 12.9% |
| $75,000 to $100,000 | 10.0% |
| $100,000 to $200,000 | 15.2% |
| $200,000 or more | 8.6% |
IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 11.9% of returns claimed the Earned Income Tax Credit.
Questions and answers
What is the Small Area Fair Market Rent for ZIP code 08751?
HUD's FY2027 Small Area FMRs for ZIP 08751 (Monmouth-Ocean, NJ) are $1,350 efficiency, $1,500 one bedroom, $1,850 two bedrooms, $2,370 three and $2,630 four bedrooms.
What payment standard can a housing authority set in ZIP 08751?
Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,665 to $2,035.
How affordable is rent in ZIP 08751?
Tax returns filed from ZIP 08751 reported an average adjusted gross income of $85,370 (2022). A two-bedroom unit at the Small Area FMR costs $22,200 a year, or 26% of that income.