FMR is below market; voucher rent may lag private rents.
0.63
1 BR
1 BR- 07407
1.17ratio
FMR$2,300
Market$1,960
vs market+$340
FMR is above market; underwrite to market rent.
1.17
2 BR
2 BR- 07407
0.84ratio
FMR$2,640
Market$3,130
vs market-$490
FMR is below market; voucher rent may lag private rents.
0.84
3 BR
3 BR- 07407
0.82ratio
FMR$3,210
Market$3,910
vs market-$700
FMR is below market; voucher rent may lag private rents.
0.82
4 BR
4 BR- 07407
1.00ratio
FMR$4,050
Market$4,040
vs market+$10
FMR is near market; voucher and private rents are aligned.
1.00
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
--
Elmwood Park, NJ fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Elmwood Park, NJ is $2,640 a month. That is down 1.9% from $2,690 in FY 2026. Elmwood Park is in the Bergen-Passaic, NJ HUD Metro FMR Area, 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 Elmwood Park is 18% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Elmwood Park, NJ
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$2,060
$2,050
−0.5%
$1,845–$2,255
1BR
$2,340
$2,300
−1.7%
$2,070–$2,530
2BR
$2,690
$2,640
−1.9%
$2,376–$2,904
3BR
$3,280
$3,210
−2.1%
$2,889–$3,531
4BR
$4,190
$4,050
−3.3%
$3,645–$4,455
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Elmwood Park, NJ
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$2,050
$2,300
$2,640
$3,210
$4,050
FY 2026
$2,060
$2,340
$2,690
$3,280
$4,190
FY 2025
$1,800
$2,090
$2,400
$2,950
$3,740
FY 2024
$1,620
$1,900
$2,190
$2,710
$3,410
FY 2023
$1,530
$1,830
$2,120
$2,630
$3,310
Questions about Elmwood Park, NJ rents
How much will Section 8 pay for a two-bedroom in Elmwood Park, NJ?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,640, that basic range is $2,376 to $2,904 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 Elmwood Park, NJ in?
Elmwood Park, NJ is in the Bergen-Passaic, NJ HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.
How much did fair market rent change in Elmwood Park, NJ for FY 2027?
The two-bedroom FMR fell 1.9%, from $2,690 in FY 2026 to $2,640 in FY 2027. Since FY 2023 it has risen 24.5%.
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