HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Cape May County, New Jersey (FY 2027)
A two-bedroom in Cape May County carries a FY 2027 Fair Market Rent of $1,857 a month, effective October 1, 2026 through September 30, 2027. Everything Section 8 pays in Cape May keys off that figure.
Two-bedroom FMR
$1,857
+3.6% from FY 2026
Payment standard
$1,671–$2,043
90% to 110% of the FMR, two-bedroom
Income to afford
$74,280
a year, with rent at 30% of income
Rank in New Jersey
20th of 21
by two-bedroom FMR, highest first
FY 2027 Fair Market Rents
Payment standard is the 90% to 110% band a housing authority can set. Income needed puts rent at 30% of gross income, and the hourly wage assumes a 40-hour week.
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2026 |
|---|---|---|---|---|---|
| Studio | $1,512 | $1,361–$1,663 | $60,480 | $29.08/hr | +14.5% |
| 1 bedroom | $1,521 | $1,369–$1,673 | $60,840 | $29.25/hr | +11.3% |
| 2 bedroom | $1,857 | $1,671–$2,043 | $74,280 | $35.71/hr | +3.6% |
| 3 bedroom | $2,431 | $2,188–$2,674 | $97,240 | $46.75/hr | +1.5% |
| 4 bedroom | $2,441 | $2,197–$2,685 | $97,640 | $46.94/hr | +1.5% |
Five to eight bedrooms (PropMetrics estimates)
HUD stops at four bedrooms. These add 15% of the four-bedroom rent per extra bedroom. It's our estimate, not a HUD number.
| Bedrooms | Estimated FMR | Payment standard |
|---|---|---|
| 5 bedroom Estimate | $2,807 | $2,526–$3,088 |
| 6 bedroom Estimate | $3,173 | $2,856–$3,490 |
| 7 bedroom Estimate | $3,539 | $3,185–$3,893 |
| 8 bedroom Estimate | $3,906 | $3,515–$4,297 |
Source: HUD Office of Policy Development and Research, FY 2027 Fair Market Rents. Rents include utilities. huduser.gov
Market check
HUD's number is one input. What does a two-bedroom in Cape May actually rent for?
Search any address in Cape May for a rent estimate built from nearby comps, with the HUD figure right next to it.
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What a voucher pays here
The voucher doesn't pay the FMR itself. It pays the payment standard. Housing authorities set it anywhere from 90% to 110% of FMR, which puts a two-bedroom standard in Cape May somewhere between $1,671 and $2,043. The tenant pays roughly 30% of their income, the voucher covers the rest up to the standard, and the PHA won't approve a rent above what comparable unassisted units get.
$1,857 a month is affordable, by HUD's 30% rule, on an income of roughly $74,280 a year. Put another way, $36 an hour full time.
Worked example for a two-bedroom renting at the payment standard. The tenant pays 30% of monthly income and the voucher covers the rest.
| Monthly household income | Tenant pays (30%) | Voucher pays at 90%$1,671 | Voucher pays at 100%$1,857 | Voucher pays at 110%$2,043 |
|---|---|---|---|---|
| $2,500 | $750 | $921 | $1,107 | $1,293 |
| $4,000 | $1,200 | $471 | $657 | $843 |
Rate history
The two-bedroom rate went up 4% from FY 2026 ($1,792) to FY 2027 ($1,857). Since FY 2020 it's up 49% in total, about 5.8% a year. The New Jersey median moved up 1% over the same year.
| Fiscal year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $814 | $1,012 | $1,250 | $1,669 | $1,708 | — |
| FY 2021 | $898 | $1,069 | $1,361 | $1,763 | $1,846 | +8.9% |
| FY 2022 | $973 | $1,113 | $1,465 | $1,816 | $1,987 | +7.6% |
| FY 2023 | $1,046 | $1,178 | $1,551 | $1,925 | $2,084 | +5.9% |
| FY 2024 | $1,107 | $1,194 | $1,569 | $1,973 | $2,090 | +1.2% |
| FY 2025 | $1,192 | $1,213 | $1,591 | $2,127 | $2,135 | +1.4% |
| FY 2026 | $1,320 | $1,366 | $1,792 | $2,396 | $2,405 | +12.6% |
| FY 2027In effect | $1,512 | $1,521 | $1,857 | $2,431 | $2,441 | +3.6% |
About this rate
Fair Market Rent is HUD's estimate of what a modest, decent unit rents for in an area, utilities included. It's set once a year and runs October to September. For FY 2027 that's October 1, 2026 through September 30, 2027. In Cape May, that runs from $1,512 for a studio up to $2,441 for four bedrooms, all five rates in the table above.
Cape May is its own HUD metro area (Cape May County, NJ), so the rate here is set from rents inside the county rather than a wider region.
Among New Jersey's 21 counties, Cape May ranks 20th for two-bedroom FMR. That's about 17% below the state median of $2,233 and about 75% above the national median county at $1,063. About 94,941 people live here, 20th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,620 in 08260 (Wildwood) and $2,400 in 08230 (Ocean View), with the 21 ZIP codes in between. Housing authorities in HUD-designated metros use those ZIP rates instead of the county rate. Everywhere else the ZIP numbers show where rents actually sit, and the county rate stays the official standard.
| ZIP | City | 2BR rate | vs county |
|---|---|---|---|
| 08202 | Avalon | $2,190 | +17.9% |
| 08204 | Cape May | $1,690 | -9.0% |
| 08210 | Cape May Court House | $2,030 | +9.3% |
| 08212 | Cape May Point | $1,690 | -9.0% |
| 08214 | Dennisville | $1,860 | +0.2% |
| 08218 | Goshen | $1,860 | +0.2% |
| 08219 | Green Creek | $1,860 | +0.2% |
| 08223 | Marmora | $2,170 | +16.9% |
| 08226 | Ocean City | $2,270 | +22.2% |
| 08230 | Ocean View | $2,400 | +29.2% |
| 08242 | Rio Grande | $1,800 | -3.1% |
| 08243 | Sea Isle City | $2,300 | +23.9% |
| 08245 | South Dennis | $2,030 | +9.3% |
| 08246 | South Seaville | $2,030 | +9.3% |
| 08247 | Stone Harbor | $2,180 | +17.4% |
| 08248 | Strathmere | $2,370 | +27.6% |
| 08250 | Tuckahoe | $1,860 | +0.2% |
| 08251 | Villas | $2,050 | +10.4% |
| 08252 | Whitesboro | $1,860 | +0.2% |
| 08260 | Wildwood | $1,620 | -12.8% |
| 08270 | Woodbine | $1,690 | -9.0% |
Nearby counties
Two-bedroom FMR, with how each compares to Cape May.
Cumberland County
22 mi · 153,305 people
$1,704
-8%
Atlantic County
24 mi · 276,270 people
$1,899
+2%
Salem County
45 mi · 65,275 people
$1,860
same rate
Gloucester County
47 mi · 306,954 people
$1,860
same rate
Camden County
52 mi · 527,257 people
$1,860
same rate
Burlington County
61 mi · 467,805 people
$1,860
same rate
Ocean County
64 mi · 654,362 people
$2,283
+23%
Mercer County
79 mi · 385,864 people
$2,242
+21%
Questions people ask
$1,857 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $1,512 for a studio, $1,521 for one bedroom, $2,431 for three and $2,441 for four.
Tools for this county
Fair Market Rent lookup
Any ZIP code's Small Area FMR by bedroom count
Section 8 rent calculator
Payment standard and tenant share for a specific rent
What is Fair Market Rent?
How HUD calculates FMR and what it means for landlords
Rent affordability calculator
The income a household needs for a given rent
What does a rental in Cape May actually go for?
HUD's number is one input. Search any address in Cape May for a rent estimate built from nearby comps. Free to start, no card.
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