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Ocean County/West Creek/08092

08092

ZIPSAFMR
Ocean County, NJ
Zillow

ZIP Investment Score

56Below average

095130300
BRFMR
Eff. Rent
0 BR$1,470$1,620
1 BR$1,630$1,790
2 BR$2,010$2,210
3 BR$2,580$2,630
4 BR$2,850$2,910
5 BR$3,277Not available
6 BR$3,769Not available
7 BR$4,334Not available
8 BR$4,985Not available

Purchase Price Calculator

Maximum purchase price
$266,489

Cost breakdown

+Likely effective rent$2,210
HUD FMR$2,010
Market rent$2,370
Est. payment standard (110%)Used$2,210
-Principal and interest-$1,348
Loan amount$213,191
Down payment$53,298
Rate6.50%
Term30 years
-Operating costs-$662
Property taxes-$266
Insurance-$175
Utilities$0
HOA$0
Management-$221
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$35,329(66.3% ROI)
Projected value
$286,979
Return breakdown
Property appreciation+$20,490
Loan principal paid down+$7,638
Rental cash flow+$7,200
5-year hold
+$60,640(113.8% ROI)
Projected value
$301,507
Return breakdown
Property appreciation+$35,019
Loan principal paid down+$13,621
Rental cash flow+$12,000
10-year hold
+$131,095(246.0% ROI)
Projected value
$341,128
Return breakdown
Property appreciation+$74,639
Loan principal paid down+$32,456
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.65
1 BR
0.77
2 BR
0.85
3 BR
0.97
4 BR
0.97
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 08092 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 08092 (West Creek, NJ) is $2,010 a month. That is up 3.6% from $1,940 in FY 2026. West Creek is in the Monmouth-Ocean, NJ HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 35 ZIP codes in Ocean County, 08092 has the 32nd-highest two-bedroom rent (county range $1,760–$3,210). The median county two-bedroom FMR in New Jersey is $2,233, so ZIP 08092 is 10% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 08092
BedroomsFY 2027Change90–110% range
Studio$1,470+5.0%$1,323–$1,617
1BR$1,630+3.8%$1,467–$1,793
2BR$2,010+3.6%$1,809–$2,211
3BR$2,580+1.6%$2,322–$2,838
4BR$2,850+1.4%$2,565–$3,135

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 08092
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,470$1,630$2,010$2,580$2,850
FY 2026$1,400$1,570$1,940$2,540$2,810
FY 2025$1,260$1,420$1,750$2,330$2,590
FY 2024$1,340$1,490$1,850$2,510$2,800
FY 2023$1,250$1,400$1,750$2,400$2,670

Two-bedroom rent in nearby Ocean County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 08092
07728$2,430+20.9%
07731$3,210+59.7%
08005$2,440+21.4%
08006$2,210+10.0%
08008$2,280+13.4%
08050$2,370+17.9%
08087$2,250+11.9%
08092Current$2,010—
08514$2,060+2.5%
08527$2,340+16.4%
08533$2,100+4.5%
08701$2,050+2.0%

Questions about ZIP 08092 rents

How much will Section 8 pay for a two-bedroom in ZIP 08092?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,010, that basic range is $1,809 to $2,211 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 08092 in?

ZIP 08092 is in the Monmouth-Ocean, NJ HUD Metro FMR Area. 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 08092 for FY 2027?

The two-bedroom FMR rose 3.6%, from $1,940 in FY 2026 to $2,010 in FY 2027. Since FY 2023 it has risen 14.9%.

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 rentWest Creek, NJ fair market rentNJ statewide rentsWhat is SAFMR?Data sources