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Monmouth County/Millstone Township/08510

08510

ZIPSAFMR
Monmouth County, NJ
Zillow

ZIP Investment Score

54Below average

095130300
BRFMR
Eff. Rent
0 BR$1,950$2,150
1 BR$2,150$2,370
2 BR$2,660$2,890
3 BR$3,410$3,440
4 BR$3,780$3,730
5 BR$4,347Not available
6 BR$4,999Not available
7 BR$5,749Not available
8 BR$6,611Not available

Purchase Price Calculator

Maximum purchase price
$367,536

Cost breakdown

+Likely effective rent$2,890
HUD FMR$2,660
Market rent$3,010
Est. payment standard (109%)Used$2,890
-Principal and interest-$1,858
Loan amount$294,029
Down payment$73,507
Rate6.50%
Term30 years
-Operating costs-$832
Property taxes-$368
Insurance-$175
Utilities$0
HOA$0
Management-$289
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$45,994(62.6% ROI)
Projected value
$395,796
Return breakdown
Property appreciation+$28,260
Loan principal paid down+$10,534
Rental cash flow+$7,200
5-year hold
+$79,083(107.6% ROI)
Projected value
$415,834
Return breakdown
Property appreciation+$48,297
Loan principal paid down+$18,786
Rental cash flow+$12,000
10-year hold
+$171,704(233.6% ROI)
Projected value
$470,478
Return breakdown
Property appreciation+$102,941
Loan principal paid down+$44,763
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.64
1 BR
0.71
2 BR
0.88
3 BR
0.99
4 BR
1.01
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 08510 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 08510 (Millstone Township, NJ) is $2,660 a month. That is down 4.0% from $2,770 in FY 2026. Millstone Township 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 60 ZIP codes in Monmouth County, 08510 has the 16th-highest two-bedroom rent (county range $1,200–$3,420). The median county two-bedroom FMR in New Jersey is $2,233, so ZIP 08510 is 19% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 08510
BedroomsFY 2027Change90–110% range
Studio$1,950−2.0%$1,755–$2,145
1BR$2,150−4.0%$1,935–$2,365
2BR$2,660−4.0%$2,394–$2,926
3BR$3,410−5.5%$3,069–$3,751
4BR$3,780−5.5%$3,402–$4,158

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 08510
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,950$2,150$2,660$3,410$3,780
FY 2026$1,990$2,240$2,770$3,610$4,000
FY 2025$1,750$1,950$2,420$3,280$3,660
FY 2024$1,940$2,160$2,680$3,640$4,060
FY 2023$1,610$1,800$2,250$3,080$3,430

Two-bedroom rent in nearby Monmouth County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 08510
08501$1,940−27.1%
08510Current$2,660—
08514$2,060−22.6%
08520$2,240−15.8%
08527$2,340−12.0%
08535$2,980+12.0%
08555$3,400+27.8%
08562$1,440−45.9%
08620$2,070−22.2%
08691$2,820+6.0%
08720$2,370−10.9%
08724$2,300−13.5%

Questions about ZIP 08510 rents

How much will Section 8 pay for a two-bedroom in ZIP 08510?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,660, that basic range is $2,394 to $2,926 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 08510 in?

ZIP 08510 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 08510 for FY 2027?

The two-bedroom FMR fell 4.0%, from $2,770 in FY 2026 to $2,660 in FY 2027. Since FY 2023 it has risen 18.2%.

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 rentMillstone Township, NJ fair market rentNJ statewide rentsWhat is SAFMR?Data sources