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Camden County/Cherry Hill/08002

08002

ZIPSAFMR
Camden County, NJ
Zillow

ZIP Investment Score

92Below average

095130300
BRFMR
Eff. Rent
0 BR$1,910$1,760
1 BR$2,070$2,130
2 BR$2,470$2,580
3 BR$2,940$3,030
4 BR$3,250$3,560
5 BR$3,737Not available
6 BR$4,298Not available
7 BR$4,943Not available
8 BR$5,684Not available

Purchase Price Calculator

Maximum purchase price
$321,470

Cost breakdown

+Likely effective rent$2,580
HUD FMR$2,470
Market rent$2,640
Est. payment standard (104%)Used$2,580
-Principal and interest-$1,626
Loan amount$257,176
Down payment$64,294
Rate6.50%
Term30 years
-Operating costs-$754
Property taxes-$321
Insurance-$175
Utilities$0
HOA$0
Management-$258
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$41,132(64.0% ROI)
Projected value
$346,189
Return breakdown
Property appreciation+$24,718
Loan principal paid down+$9,214
Rental cash flow+$7,200
5-year hold
+$70,675(109.9% ROI)
Projected value
$363,714
Return breakdown
Property appreciation+$42,244
Loan principal paid down+$16,431
Rental cash flow+$12,000
10-year hold
+$153,191(238.3% ROI)
Projected value
$411,509
Return breakdown
Property appreciation+$90,039
Loan principal paid down+$39,152
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.09
1 BR
0.96
2 BR
0.94
3 BR
0.95
4 BR
0.87
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 08002 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 08002 (Cherry Hill, NJ) is $2,470 a month. That is up 4.7% from $2,360 in FY 2026. Cherry Hill is in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 41 ZIP codes in Camden County, 08002 has the 3rd-highest two-bedroom rent (county range $1,380–$2,670). The median county two-bedroom FMR in New Jersey is $2,233, so ZIP 08002 is 11% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 08002
BedroomsFY 2027Change90–110% range
Studio$1,910+4.9%$1,719–$2,101
1BR$2,070+4.5%$1,863–$2,277
2BR$2,470+4.7%$2,223–$2,717
3BR$2,940+3.9%$2,646–$3,234
4BR$3,250+2.8%$2,925–$3,575

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 08002
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,910$2,070$2,470$2,940$3,250
FY 2026$1,820$1,980$2,360$2,830$3,160
FY 2025$1,760$1,940$2,310$2,780$3,160
FY 2024$1,640$1,830$2,190$2,650$3,050
FY 2023$1,340$1,510$1,820$2,220$2,570

Two-bedroom rent in nearby Camden County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 08002
08002Current$2,470—
08003$2,500+1.2%
08004$2,100−15.0%
08007$1,380−44.1%
08009$1,840−25.5%
08012$2,030−17.8%
08018$1,780−27.9%
08021$1,930−21.9%
08026$2,130−13.8%
08029$1,650−33.2%
08030$1,970−20.2%
08031$1,500−39.3%

Questions about ZIP 08002 rents

How much will Section 8 pay for a two-bedroom in ZIP 08002?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,470, that basic range is $2,223 to $2,717 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 08002 in?

ZIP 08002 is in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 08002 for FY 2027?

The two-bedroom FMR rose 4.7%, from $2,360 in FY 2026 to $2,470 in FY 2027. Since FY 2023 it has risen 35.7%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentCherry Hill, NJ fair market rentNJ statewide rentsWhat is SAFMR?Data sources