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Atlantic County/Margate City/08402

08402

ZIPSAFMR
Atlantic County, NJ
Zillow

ZIP Investment Score

39Below average

095130300
BRFMR
Eff. Rent
0 BR$1,510$1,660
1 BR$1,720$1,700
2 BR$2,080$2,290
3 BR$2,820$3,100
4 BR$3,120$3,430
5 BR$3,588Not available
6 BR$4,126Not available
7 BR$4,745Not available
8 BR$5,457Not available

Purchase Price Calculator

Maximum purchase price
$278,377

Cost breakdown

+Likely effective rent$2,290
HUD FMR$2,080
Market rent$8,230
Est. payment standard (110%)Used$2,290
-Principal and interest-$1,408
Loan amount$222,701
Down payment$55,675
Rate6.50%
Term30 years
-Operating costs-$682
Property taxes-$278
Insurance-$175
Utilities$0
HOA$0
Management-$229
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$36,583(65.7% ROI)
Projected value
$299,781
Return breakdown
Property appreciation+$21,405
Loan principal paid down+$7,979
Rental cash flow+$7,200
5-year hold
+$62,809(112.8% ROI)
Projected value
$314,958
Return breakdown
Property appreciation+$36,581
Loan principal paid down+$14,228
Rental cash flow+$12,000
10-year hold
+$135,873(244.0% ROI)
Projected value
$356,346
Return breakdown
Property appreciation+$77,969
Loan principal paid down+$33,904
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.12
1 BR
1.01
2 BR
0.25
3 BR
0.20
4 BR
0.25
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 08402 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 08402 (Margate City, NJ) is $2,080 a month. That is down 1.9% from $2,120 in FY 2026. Margate City is in the Atlantic City-Hammonton, 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 $1,899. Among 36 ZIP codes in Atlantic County, 08402 has the 11th-highest two-bedroom rent (county range $1,610–$2,850). The median county two-bedroom FMR in New Jersey is $2,233, so ZIP 08402 is 7% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 08402
BedroomsFY 2027Change90–110% range
Studio$1,510−1.3%$1,359–$1,661
1BR$1,720−1.7%$1,548–$1,892
2BR$2,080−1.9%$1,872–$2,288
3BR$2,820−4.1%$2,538–$3,102
4BR$3,120−3.7%$2,808–$3,432

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 08402
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,510$1,720$2,080$2,820$3,120
FY 2026$1,530$1,750$2,120$2,940$3,240
FY 2025$1,410$1,600$1,950$2,730$3,010
FY 2024$1,350$1,540$1,920$2,710$2,970
FY 2023$1,220$1,420$1,790$2,530$2,770

Two-bedroom rent in nearby Atlantic County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 08402
08341$1,690−18.7%
08342$1,900−8.7%
08344$1,870−10.1%
08346$2,000−3.8%
08350$1,690−18.7%
08360$1,610−22.6%
08361$1,870−10.1%
08401$1,690−18.7%
08402Current$2,080—
08403$2,850+37.0%
08404$1,900−8.7%
08406$2,000−3.8%

Questions about ZIP 08402 rents

How much will Section 8 pay for a two-bedroom in ZIP 08402?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,899, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,709 to $2,089 a month; under the ZIP-level Small Area FMR of $2,080 it would be $1,872 to $2,288. 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 08402 in?

ZIP 08402 is in the Atlantic City-Hammonton, NJ HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,899.

How much did fair market rent change in ZIP 08402 for FY 2027?

The two-bedroom FMR fell 1.9%, from $2,120 in FY 2026 to $2,080 in FY 2027. Since FY 2023 it has risen 16.2%.

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 rentMargate City, NJ fair market rentNJ statewide rentsWhat is SAFMR?Data sources