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Camden County/Cherry Hill/08003

08003

ZIPSAFMR
Camden County, NJ
Zillow

ZIP Investment Score

87Below average

095130300
BRFMR
Eff. Rent
0 BR$1,930$1,720
1 BR$2,090$1,880
2 BR$2,500$2,510
3 BR$2,980$3,030
4 BR$3,290$3,440
5 BR$3,783Not available
6 BR$4,351Not available
7 BR$5,004Not available
8 BR$5,754Not available

Purchase Price Calculator

Maximum purchase price
$311,068

Cost breakdown

+Likely effective rent$2,510
HUD FMR$2,500
Market rent$2,510
Est. payment standard (100%)Used$2,510
-Principal and interest-$1,573
Loan amount$248,855
Down payment$62,214
Rate6.50%
Term30 years
-Operating costs-$737
Property taxes-$311
Insurance-$175
Utilities$0
HOA$0
Management-$251
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$40,034(64.3% ROI)
Projected value
$334,987
Return breakdown
Property appreciation+$23,918
Loan principal paid down+$8,916
Rental cash flow+$7,200
5-year hold
+$68,776(110.5% ROI)
Projected value
$351,945
Return breakdown
Property appreciation+$40,877
Loan principal paid down+$15,899
Rental cash flow+$12,000
10-year hold
+$149,011(239.5% ROI)
Projected value
$398,194
Return breakdown
Property appreciation+$87,125
Loan principal paid down+$37,885
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.12
1 BR
1.11
2 BR
1.00
3 BR
0.97
4 BR
0.93
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 08003 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 08003 (Cherry Hill, NJ) is $2,500 a month. That is down 3.1% from $2,580 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, 08003 has the 2nd-highest two-bedroom rent (county range $1,380–$2,670). The median county two-bedroom FMR in New Jersey is $2,233, so ZIP 08003 is 12% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 08003
BedroomsFY 2027Change90–110% range
Studio$1,930−3.0%$1,737–$2,123
1BR$2,090−3.7%$1,881–$2,299
2BR$2,500−3.1%$2,250–$2,750
3BR$2,980−3.6%$2,682–$3,278
4BR$3,290−4.6%$2,961–$3,619

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 08003
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,930$2,090$2,500$2,980$3,290
FY 2026$1,990$2,170$2,580$3,090$3,450
FY 2025$1,980$2,180$2,600$3,130$3,560
FY 2024$1,960$2,180$2,610$3,160$3,640
FY 2023$1,630$1,830$2,210$2,690$3,130

Two-bedroom rent in nearby Camden County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 08003
08002$2,470−1.2%
08003Current$2,500—
08004$2,100−16.0%
08007$1,380−44.8%
08009$1,840−26.4%
08012$2,030−18.8%
08018$1,780−28.8%
08021$1,930−22.8%
08026$2,130−14.8%
08029$1,650−34.0%
08030$1,970−21.2%
08031$1,500−40.0%

Questions about ZIP 08003 rents

How much will Section 8 pay for a two-bedroom in ZIP 08003?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,500, that basic range is $2,250 to $2,750 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 08003 in?

ZIP 08003 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 08003 for FY 2027?

The two-bedroom FMR fell 3.1%, from $2,580 in FY 2026 to $2,500 in FY 2027. Since FY 2023 it has risen 13.1%.

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