Skip to main content
Loading page
Ocean County/Ocean Gate/08740

08740

ZIPSAFMR
Ocean County, NJ
Zillow

ZIP Investment Score

76Below average

095130300
BRFMR
Eff. Rent
0 BR$1,750$1,930
1 BR$1,930$2,120
2 BR$2,390$2,550
3 BR$3,070$3,080
4 BR$3,410$3,730
5 BR$3,921Not available
6 BR$4,510Not available
7 BR$5,186Not available
8 BR$5,964Not available

Purchase Price Calculator

Maximum purchase price
$317,012

Cost breakdown

+Likely effective rent$2,550
HUD FMR$2,390
Market rent$2,630
Est. payment standard (107%)Used$2,550
-Principal and interest-$1,603
Loan amount$253,610
Down payment$63,402
Rate6.50%
Term30 years
-Operating costs-$747
Property taxes-$317
Insurance-$175
Utilities$0
HOA$0
Management-$255
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$40,662(64.1% ROI)
Projected value
$341,388
Return breakdown
Property appreciation+$24,375
Loan principal paid down+$9,086
Rental cash flow+$7,200
5-year hold
+$69,861(110.2% ROI)
Projected value
$358,671
Return breakdown
Property appreciation+$41,658
Loan principal paid down+$16,203
Rental cash flow+$12,000
10-year hold
+$151,400(238.8% ROI)
Projected value
$405,803
Return breakdown
Property appreciation+$88,790
Loan principal paid down+$38,609
Rental cash flow+$24,000

Public Housing Authority

Loading Public Housing Authority

Rolodex

Loading Rolodex

Market Alignment

Studio
0.79
1 BR
0.83
2 BR
0.91
3 BR
1.00
4 BR
0.87
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 08740 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 08740 (Ocean Gate, NJ) is $2,390 a month. That is down 8.4% from $2,610 in FY 2026. Ocean Gate 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, 08740 has the 9th-highest two-bedroom rent (county range $1,760–$3,210). The median county two-bedroom FMR in New Jersey is $2,233, so ZIP 08740 is 7% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 08740
BedroomsFY 2027Change90–110% range
Studio$1,750−6.9%$1,575–$1,925
1BR$1,930−9.0%$1,737–$2,123
2BR$2,390−8.4%$2,151–$2,629
3BR$3,070−10.0%$2,763–$3,377
4BR$3,410−9.8%$3,069–$3,751

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 08740
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,750$1,930$2,390$3,070$3,410
FY 2026$1,880$2,120$2,610$3,410$3,780
FY 2025$1,680$1,880$2,320$3,090$3,440
FY 2024$1,560$1,740$2,160$2,940$3,270
FY 2023$1,270$1,420$1,780$2,440$2,710

Two-bedroom rent in nearby Ocean County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 08740
08731$2,660+11.3%
08732$2,110−11.7%
08733$2,190−8.4%
08734$2,130−10.9%
08735$2,090−12.6%
08738$2,410+0.8%
08739$2,240−6.3%
08740Current$2,390—
08741$2,280−4.6%
08742$2,410+0.8%
08751$1,850−22.6%
08752$1,940−18.8%

Questions about ZIP 08740 rents

How much will Section 8 pay for a two-bedroom in ZIP 08740?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,390, that basic range is $2,151 to $2,629 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 08740 in?

ZIP 08740 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 08740 for FY 2027?

The two-bedroom FMR fell 8.4%, from $2,610 in FY 2026 to $2,390 in FY 2027. Since FY 2023 it has risen 34.3%.

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