FMR is near market; voucher and private rents are aligned.
1.07
1 BR
1 BR- 07023
1.09ratio
FMR$2,590
Market$2,380
vs market+$210
FMR is near market; voucher and private rents are aligned.
1.09
2 BR
2 BR- 07023
1.11ratio
FMR$3,130
Market$2,810
vs market+$320
FMR is above market; underwrite to market rent.
1.11
3 BR
3 BR- 07023
1.07ratio
FMR$3,900
Market$3,660
vs market+$240
FMR is near market; voucher and private rents are aligned.
1.07
4 BR
4 BR- 07023
0.95ratio
FMR$4,470
Market$4,690
vs market-$220
FMR is near market; voucher and private rents are aligned.
0.95
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
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Fanwood, NJ fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Fanwood, NJ is $3,130 a month. That is up 2.3% from $3,060 in FY 2026. Fanwood is in the Newark, 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 $2,233. The median county two-bedroom FMR in New Jersey is $2,233, so Fanwood is 40% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Fanwood, NJ
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$2,240
$2,300
+2.7%
$2,070–$2,530
1BR
$2,530
$2,590
+2.4%
$2,331–$2,849
2BR
$3,060
$3,130
+2.3%
$2,817–$3,443
3BR
$3,830
$3,900
+1.8%
$3,510–$4,290
4BR
$4,350
$4,470
+2.8%
$4,023–$4,917
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Fanwood, NJ
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$2,300
$2,590
$3,130
$3,900
$4,470
FY 2026
$2,240
$2,530
$3,060
$3,830
$4,350
FY 2025
$2,190
$2,500
$3,020
$3,800
$4,330
FY 2024
$2,070
$2,380
$2,870
$3,630
$4,190
FY 2023
$1,690
$2,010
$2,410
$3,060
$3,590
Questions about Fanwood, NJ rents
How much will Section 8 pay for a two-bedroom in Fanwood, NJ?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $2,233, which applies unless the housing authority uses Small Area FMRs, that basic range is $2,010 to $2,456 a month; under the ZIP-level Small Area FMR of $3,130 it would be $2,817 to $3,443. 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 Fanwood, NJ in?
Fanwood, NJ is in the Newark, NJ HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $2,233.
How much did fair market rent change in Fanwood, NJ for FY 2027?
The two-bedroom FMR rose 2.3%, from $3,060 in FY 2026 to $3,130 in FY 2027. Since FY 2023 it has risen 29.9%.
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