Not enough rental comps in this area to determine how FMR aligns with current market rates.
Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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ZIP 08348 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 08348 (Port Elizabeth, NJ) is $1,670 a month. That is up 2.5% from $1,630 in FY 2026. Port Elizabeth is in the Vineland, NJ MSA. 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 $1,704. Among 25 ZIP codes in Cumberland County, 08348 is tied for the 21st-highest two-bedroom rent (county range $1,510–$2,210). The median county two-bedroom FMR in New Jersey is $2,233, so ZIP 08348 is 25% below it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 08348
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,250
$1,260
+0.8%
$1,134–$1,386
1BR
$1,340
$1,390
+3.7%
$1,251–$1,529
2BR
$1,630
$1,670
+2.5%
$1,503–$1,837
3BR
$2,240
$2,310
+3.1%
$2,079–$2,541
4BR
$2,250
$2,430
+8.0%
$2,187–$2,673
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 08348
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,260
$1,390
$1,670
$2,310
$2,430
FY 2026
$1,250
$1,340
$1,630
$2,240
$2,250
FY 2025
$1,180
$1,250
$1,560
$2,120
$2,140
FY 2024
$1,170
$1,200
$1,530
$2,020
$2,090
FY 2023
$1,100
$1,150
$1,480
$1,950
$2,090
Two-bedroom rent in nearby Cumberland County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 08348?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,704, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,534 to $1,874 a month; under the ZIP-level Small Area FMR of $1,670 it would be $1,503 to $1,837. 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 08348 in?
ZIP 08348 is in the Vineland, NJ MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,704.
How much did fair market rent change in ZIP 08348 for FY 2027?
The two-bedroom FMR rose 2.5%, from $1,630 in FY 2026 to $1,670 in FY 2027. Since FY 2023 it has risen 12.8%.
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