For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Deepwater, NJ is $2,440 a month. That is up 20.2% from $2,030 in FY 2026. Deepwater is in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. The median county two-bedroom FMR in New Jersey is $2,233, so Deepwater is 9% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Deepwater, NJ
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,570
$1,890
+20.4%
$1,701–$2,079
1BR
$1,710
$2,040
+19.3%
$1,836–$2,244
2BR
$2,030
$2,440
+20.2%
$2,196–$2,684
3BR
$2,430
$2,910
+19.8%
$2,619–$3,201
4BR
$2,720
$3,210
+18.0%
$2,889–$3,531
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Deepwater, NJ
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,890
$2,040
$2,440
$2,910
$3,210
FY 2026
$1,570
$1,710
$2,030
$2,430
$2,720
FY 2025
$1,520
$1,680
$2,000
$2,410
$2,740
FY 2024
$1,400
$1,550
$1,860
$2,250
$2,590
FY 2023
$1,200
$1,350
$1,630
$1,980
$2,310
Questions about Deepwater, NJ rents
How much will Section 8 pay for a two-bedroom in Deepwater, NJ?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,440, that basic range is $2,196 to $2,684 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 Deepwater, NJ in?
Deepwater, NJ is in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.
How much did fair market rent change in Deepwater, NJ for FY 2027?
The two-bedroom FMR rose 20.2%, from $2,030 in FY 2026 to $2,440 in FY 2027. Since FY 2023 it has risen 49.7%.
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