JeffCroweCRE

Housing market/New Jersey/ZIP 08873

ACS 2023 · FY2027 SAFMR

ZIP 08873 Somerset, New Jersey

Middlesex-Somerset-Hunterdon, NJ HUD Metro FMR Area · New Jersey. Census housing stock, renter economics, HUD SAFMR, LIHTC, and population change. Not a listing page and not a buy/sell score.

Population
55,862
Households
21,641
Median HH income
$117,866
Renter share
32.7%
Median gross rent
$1,942
Vacancy
2.3%
Pop. change
+4.0%
2BR SAFMR
$2,840
SAFMR / rent
1.462×
2–49 unit stock
5,266
LIHTC proj / units
10 / 866
HUD assisted MF
3 / 187

ZIP brief

Email this profile

HUD schedule, ACS stock, and the 90–110% band for ZIP 08873 · NJ — sent to you.

ZIP 08873 · NJ

By checking this box you agree that you may be referred to another real estate broker or related service and acknowledge that CENTURY 21 The Avenues licensees and/or affiliates may be paid a valuable consideration for facilitating such referral.

ACS rent vs 2BR SAFMR

ZIP 08873 — Somerset, NJ HUD Section 8 Payment Standards / SAFMR →
ACS median rent$1,942
2BR SAFMR$2,840
90% floor$2,556
110% ceiling$3,124

ACS median is all-bedroom occupied rent. SAFMR is the 2-bedroom HCV benchmark.

Housing stock

ACS 2023 units-in-structure · ZCTA 08873

  • 1-unit detached10,50247.4%
  • 1-unit attached4,46620.2%
  • 2–4 units1,9268.7%
  • 5–49 units3,34015.1%
  • 50+ units1,8958.6%
  • Mobile130.1%
TypeUnitsShare
1-unit detached10,50247.4%
1-unit attached4,46620.2%
2 units (duplex)8814.0%
3–4 units1,0454.7%
5–9 units8353.8%
10–19 units1,6367.4%
20–49 units8693.9%
50+ units1,8958.6%
Mobile130.1%

2–4 unit share 8.7% · 5–49 unit share 15.1% · combined 2–49 23.8%.

Units by bedrooms

Studio
374
1BR
2,415
2BR
7,980
3BR
6,169
4BR
4,310
5+
894

Rent burden

Rent ≥30% of income43.5%
Rent ≥50% of income19.7%
  • ACS median gross rent $1,942 (all bedrooms, occupied rentals).
  • Median contract rent $1,805.
  • Renters paying ≥30% of income 43.5%; ≥50% 19.7%.
  • FY2027 2BR SAFMR $2,840 (1.462× ACS median gross rent).

Population

55,862 residents · ACS 2023

Change versus the 2018 ACS 5-year estimate: +4.0%.

ACS 5-year estimates lag current construction. This is not a forecast.

Assisted inventory

  • LIHTC: 10 projects, 866 units.
  • HUD project-based assisted MF: 3 properties, 187 assisted units.
  • HCV household counts (Picture of Subsidized Households) are not on this page yet.

New apartment permits

About 496 new apartments in 5+ unit buildings may have been permitted in this ZIP’s share of the county. That is units (doors), not a building count.

Cities and counties report building permits to the Census. Apartment counts are for the whole county, not a project list in this ZIP.

What the data shows

ZIP 08873 32.7% of occupied households are renters; vacancy is 2.3%; ACS median gross rent is $1,942; population increased +4.0% between the 2018 and 2023 ACS vintages; the housing stock includes 1,926 units in 2–4-unit structures and 3,340 units in 5–49-unit structures; 10 LIHTC projects totaling 866 units; FY2027 2BR SAFMR is $2,840 versus ACS median gross rent of $1,942. These figures describe the underlying housing market, not the cash flow of any one property. Asking rents, expenses, condition, taxes, insurance, and the rent roll have to be underwritten separately.

New Jersey research

ZIP 08873 is a Census / HUD profile for Middlesex-Somerset-Hunterdon, NJ. Not a listing page. Brokerage is Georgia; out-of-state work is referral.

ZIP 08873 — Somerset, NJ HUD Section 8 Payment Standards / SAFMR·New Jersey ZIP directory

Nearby ZIPs in this FMR area

ZIPPlaceRentersMed. rent2BR SAFMR
07001Middlesex-Somerset-Hunterdon, NJ HUD Metro FMR Area50.3%$1,839$2,71007008Middlesex-Somerset-Hunterdon, NJ HUD Metro FMR Area44.7%$2,012$2,88007059Middlesex-Somerset-Hunterdon, NJ HUD Metro FMR Area11.3%$2,099$2,93007064Middlesex-Somerset-Hunterdon, NJ HUD Metro FMR Area6.9%—$2,59007069Middlesex-Somerset-Hunterdon, NJ HUD Metro FMR Area12.4%$2,571$3,40007077Middlesex-Somerset-Hunterdon, NJ HUD Metro FMR Area29.1%$1,382$2,24007080Middlesex-Somerset-Hunterdon, NJ HUD Metro FMR Area14.9%$1,928$2,76007095Middlesex-Somerset-Hunterdon, NJ HUD Metro FMR Area47.1%$2,077$2,93007831Middlesex-Somerset-Hunterdon, NJ HUD Metro FMR Area0.0%—$2,24007882Middlesex-Somerset-Hunterdon, NJ HUD Metro FMR Area28.5%$1,411$2,24007921Middlesex-Somerset-Hunterdon, NJ HUD Metro FMR Area20.8%$2,160$3,11007938Middlesex-Somerset-Hunterdon, NJ HUD Metro FMR Area——$2,750

Census ZIP areas approximate mail ZIPs. Sources: Census ACS 5-year 2023, HUD FY2027 Small Area FMR, HUD LIHTC and assisted multifamily lists, Census building permits (county). This page is New Jersey research. Brokerage is Georgia.

FAQ

What is the housing market like in ZIP 08873?

ZIP 08873 (Middlesex-Somerset-Hunterdon, NJ HUD Metro FMR Area) has 55,862 residents, 21,641 households, a renter share of 32.7%, median household income of $117,866, and ACS 2023 median gross rent of $1,942. Vacancy is 2.3%. These are ZCTA estimates, not a property rent roll.

How much small multifamily housing is in 08873?

ACS counts 881 units in 2-unit buildings, 1,045 in 3–4 unit buildings, 835 in 5–9, 1,636 in 10–19, and 869 in 20–49. Combined 2–49 unit stock is 5,266 units. This is occupied-and-vacant stock, not listings for sale.

What is the Section 8 rent in 08873?

The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $2,840. See the full schedule and 90–110% payment-standard band on the ZIP 08873 — Somerset, NJ HUD Section 8 Payment Standards / SAFMR.

Does this New Jersey ZIP profile include Georgia listings?

No. ZIP 08873 is Census / HUD research for Middlesex-Somerset-Hunterdon, NJ HUD Metro FMR Area. Jeff Crowe CRE does not list New Jersey property. Licensed brokerage is Georgia. If you use this stock table and then buy in Georgia, live FMLS Residential Income is on multifamily for sale in Georgia.