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Housing market/New Jersey/ZIP 08502

ACS 2023 · FY2027 SAFMR

ZIP 08502 Belle Mead, 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
12,081
Households
4,049
Median HH income
$223,444
Renter share
18.0%
Median gross rent
$2,511
Vacancy
0.0%
Pop. change
+7.8%
2BR SAFMR
$3,370
SAFMR / rent
1.342×
2–49 unit stock
588
LIHTC proj / units
—
HUD assisted MF
—

ZIP brief

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HUD schedule, ACS stock, and the 90–110% band for ZIP 08502 · NJ — sent to you.

ZIP 08502 · NJ

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ACS rent vs 2BR SAFMR

ZIP 08502 — Belle Mead, NJ HUD Section 8 Payment Standards / SAFMR →
ACS median rent$2,511
2BR SAFMR$3,370
90% floor$3,033
110% ceiling$3,707

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

Housing stock

ACS 2023 units-in-structure · ZCTA 08502

  • 1-unit detached3,07075.8%
  • 1-unit attached3438.5%
  • 2–4 units982.4%
  • 5–49 units49012.1%
  • 50+ units481.2%
TypeUnitsShare
1-unit detached3,07075.8%
1-unit attached3438.5%
2 units (duplex)130.3%
3–4 units852.1%
5–9 units2736.7%
10–19 units1373.4%
20–49 units802.0%
50+ units481.2%
Mobile00.0%

2–4 unit share 2.4% · 5–49 unit share 12.1% · combined 2–49 14.5%.

Units by bedrooms

Studio
6
1BR
358
2BR
546
3BR
602
4BR
1,852
5+
685

Rent burden

Rent ≥30% of income21.0%
Rent ≥50% of income12.3%
  • ACS median gross rent $2,511 (all bedrooms, occupied rentals).
  • Median contract rent $2,164.
  • Renters paying ≥30% of income 21.0%; ≥50% 12.3%.
  • FY2027 2BR SAFMR $3,370 (1.342× ACS median gross rent).

Population

12,081 residents · ACS 2023

Change versus the 2018 ACS 5-year estimate: +7.8%.

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

Assisted inventory

  • LIHTC: not published for this ZIP.
  • HUD project-based assisted MF: not published for this ZIP.
  • 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 08502 18.0% of occupied households are renters; vacancy is 0.0%; ACS median gross rent is $2,511; population increased +7.8% between the 2018 and 2023 ACS vintages; the housing stock includes 98 units in 2–4-unit structures and 490 units in 5–49-unit structures; FY2027 2BR SAFMR is $3,370 versus ACS median gross rent of $2,511. 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 08502 is a Census / HUD profile for Middlesex-Somerset-Hunterdon, NJ. Not a listing page. Brokerage is Georgia; out-of-state work is referral.

ZIP 08502 — Belle Mead, 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 08502?

ZIP 08502 (Middlesex-Somerset-Hunterdon, NJ HUD Metro FMR Area) has 12,081 residents, 4,049 households, a renter share of 18.0%, median household income of $223,444, and ACS 2023 median gross rent of $2,511. Vacancy is 0.0%. These are ZCTA estimates, not a property rent roll.

How much small multifamily housing is in 08502?

ACS counts 13 units in 2-unit buildings, 85 in 3–4 unit buildings, 273 in 5–9, 137 in 10–19, and 80 in 20–49. Combined 2–49 unit stock is 588 units. This is occupied-and-vacant stock, not listings for sale.

What is the Section 8 rent in 08502?

The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $3,370. See the full schedule and 90–110% payment-standard band on the ZIP 08502 — Belle Mead, NJ HUD Section 8 Payment Standards / SAFMR.

Does this New Jersey ZIP profile include Georgia listings?

No. ZIP 08502 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.