Skip to main content
Loading page
Cape May County/Ocean View/08230

08230

ZIPSAFMR
Cape May County, NJ
Zillow

ZIP Investment Score

71Below average

095130300
BRFMR
Eff. Rent
0 BR$1,950$1,950
1 BR$1,970$1,970
2 BR$2,400$2,400
3 BR$3,140$3,140
4 BR$3,150$3,150
5 BR$3,622Not available
6 BR$4,166Not available
7 BR$4,791Not available
8 BR$5,509Not available

Purchase Price Calculator

Maximum purchase price
$294,723

Cost breakdown

+Likely effective rent$2,400
HUD FMRUsed$2,400
Market rentN/A
Est. payment standardN/A
-Principal and interest-$1,490
Loan amount$235,778
Down payment$58,945
Rate6.50%
Term30 years
-Operating costs-$710
Property taxes-$295
Insurance-$175
Utilities$0
HOA$0
Management-$240
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$38,309(65.0% ROI)
Projected value
$317,384
Return breakdown
Property appreciation+$22,661
Loan principal paid down+$8,447
Rental cash flow+$7,200
5-year hold
+$65,793(111.6% ROI)
Projected value
$333,451
Return breakdown
Property appreciation+$38,729
Loan principal paid down+$15,064
Rental cash flow+$12,000
10-year hold
+$142,442(241.7% ROI)
Projected value
$377,270
Return breakdown
Property appreciation+$82,547
Loan principal paid down+$35,895
Rental cash flow+$24,000

Public Housing Authority

Loading Public Housing Authority

Rolodex

Loading Rolodex

Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 08230 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 08230 (Ocean View, NJ) is $2,400 a month. That is up 3.4% from $2,320 in FY 2026. Ocean View is in the Cape May County, NJ HUD Metro FMR Area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,857. Among 22 ZIP codes in Cape May County, 08230 has the highest two-bedroom rent (county range $1,620–$2,400). The median county two-bedroom FMR in New Jersey is $2,233, so ZIP 08230 is 7% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 08230
BedroomsFY 2027Change90–110% range
Studio$1,950+14.0%$1,755–$2,145
1BR$1,970+11.3%$1,773–$2,167
2BR$2,400+3.4%$2,160–$2,640
3BR$3,140+1.3%$2,826–$3,454
4BR$3,150+1.3%$2,835–$3,465

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 08230
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,950$1,970$2,400$3,140$3,150
FY 2026$1,710$1,770$2,320$3,100$3,110
FY 2025$1,370$1,390$1,830$2,450$2,460
FY 2024$1,040$1,130$1,480$1,860$1,970
FY 2023$1,010$1,140$1,500$1,860$2,020

Two-bedroom rent in nearby Cape May County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 08230
08212$1,690−29.6%
08214$1,860−22.5%
08218$1,860−22.5%
08219$1,860−22.5%
08223$2,170−9.6%
08226$2,270−5.4%
08230Current$2,400—
08242$1,800−25.0%
08243$2,300−4.2%
08245$2,030−15.4%
08246$2,030−15.4%
08247$2,180−9.2%

Questions about ZIP 08230 rents

How much will Section 8 pay for a two-bedroom in ZIP 08230?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,857, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,671 to $2,043 a month; under the ZIP-level Small Area FMR of $2,400 it would be $2,160 to $2,640. 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 08230 in?

ZIP 08230 is in the Cape May County, NJ HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,857.

How much did fair market rent change in ZIP 08230 for FY 2027?

The two-bedroom FMR rose 3.4%, from $2,320 in FY 2026 to $2,400 in FY 2027. Since FY 2023 it has risen 60.0%.

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 rentOcean View, NJ fair market rentNJ statewide rentsWhat is SAFMR?Data sources