FMR is below market; voucher rent may lag private rents.
0.77
1 BR
1 BR- 07008
1.01ratio
FMR$2,310
Market$2,280
vs market+$30
FMR is near market; voucher and private rents are aligned.
1.01
2 BR
2 BR- 07008
1.08ratio
FMR$2,880
Market$2,660
vs market+$220
FMR is near market; voucher and private rents are aligned.
1.08
3 BR
3 BR- 07008
1.11ratio
FMR$3,430
Market$3,100
vs market+$330
FMR is above market; underwrite to market rent.
1.11
4 BR
4 BR- 07008
1.07ratio
FMR$3,850
Market$3,590
vs market+$260
FMR is near market; voucher and private rents are aligned.
1.07
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--
Carteret, NJ fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Carteret, NJ is $2,880 a month. That is up 7.1% from $2,690 in FY 2026. Carteret is in the Middlesex-Somerset-Hunterdon, NJ HUD Metro FMR Area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $2,623. The median county two-bedroom FMR in New Jersey is $2,233, so Carteret is 29% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Carteret, NJ
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,950
$2,140
+9.7%
$1,926–$2,354
1BR
$2,140
$2,310
+7.9%
$2,079–$2,541
2BR
$2,690
$2,880
+7.1%
$2,592–$3,168
3BR
$3,230
$3,430
+6.2%
$3,087–$3,773
4BR
$3,570
$3,850
+7.8%
$3,465–$4,235
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Carteret, NJ
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$2,140
$2,310
$2,880
$3,430
$3,850
FY 2026
$1,950
$2,140
$2,690
$3,230
$3,570
FY 2025
$1,630
$1,830
$2,300
$2,770
$3,050
FY 2024
$1,680
$1,890
$2,380
$2,880
$3,170
FY 2023
$1,410
$1,600
$2,020
$2,460
$2,710
Questions about Carteret, NJ rents
How much will Section 8 pay for a two-bedroom in Carteret, NJ?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $2,623, which applies unless the housing authority uses Small Area FMRs, that basic range is $2,361 to $2,885 a month; under the ZIP-level Small Area FMR of $2,880 it would be $2,592 to $3,168. 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 Carteret, NJ in?
Carteret, NJ is in the Middlesex-Somerset-Hunterdon, NJ HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $2,623.
How much did fair market rent change in Carteret, NJ for FY 2027?
The two-bedroom FMR rose 7.1%, from $2,690 in FY 2026 to $2,880 in FY 2027. Since FY 2023 it has risen 42.6%.
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