Not enough rental comps in this area to determine how FMR aligns with current market rates.
Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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Elwood, NJ fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Elwood, NJ is $1,920 a month. That is up 2.7% from $1,870 in FY 2026. Elwood is in the Atlantic City-Hammonton, 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 $1,899. The median county two-bedroom FMR in New Jersey is $2,233, so Elwood is 14% below it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Elwood, NJ
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,360
$1,400
+2.9%
$1,260–$1,540
1BR
$1,540
$1,580
+2.6%
$1,422–$1,738
2BR
$1,870
$1,920
+2.7%
$1,728–$2,112
3BR
$2,530
$2,550
+0.8%
$2,295–$2,805
4BR
$2,800
$2,830
+1.1%
$2,547–$3,113
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Elwood, NJ
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,400
$1,580
$1,920
$2,550
$2,830
FY 2026
$1,360
$1,540
$1,870
$2,530
$2,800
FY 2025
$1,240
$1,410
$1,720
$2,410
$2,660
FY 2024
$1,170
$1,340
$1,670
$2,350
$2,580
FY 2023
$1,080
$1,250
$1,580
$2,240
$2,440
Questions about Elwood, NJ rents
How much will Section 8 pay for a two-bedroom in Elwood, NJ?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,899, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,709 to $2,089 a month; under the ZIP-level Small Area FMR of $1,920 it would be $1,728 to $2,112. 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 Elwood, NJ in?
Elwood, NJ is in the Atlantic City-Hammonton, NJ HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,899.
How much did fair market rent change in Elwood, NJ for FY 2027?
The two-bedroom FMR rose 2.7%, from $1,870 in FY 2026 to $1,920 in FY 2027. Since FY 2023 it has risen 21.5%.
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