FMR is below market; voucher rent may lag private rents.
0.53
1 BR
1 BR- 07931
0.91ratio
FMR$2,410
Market$2,660
vs market-$250
FMR is near market; voucher and private rents are aligned.
0.91
2 BR
2 BR- 07931
0.94ratio
FMR$2,980
Market$3,170
vs market-$190
FMR is near market; voucher and private rents are aligned.
0.94
3 BR
3 BR- 07931
0.93ratio
FMR$3,600
Market$3,860
vs market-$260
FMR is near market; voucher and private rents are aligned.
0.93
4 BR
4 BR- 07931
0.80ratio
FMR$4,060
Market$5,100
vs market-$1,040
FMR is below market; voucher rent may lag private rents.
0.80
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
--
Far Hills, NJ fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Far Hills, NJ is $2,980 a month. That is up 6.0% from $2,810 in FY 2026. Far Hills 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 Far Hills is 33% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Far Hills, NJ
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$2,050
$2,210
+7.8%
$1,989–$2,431
1BR
$2,260
$2,410
+6.6%
$2,169–$2,651
2BR
$2,810
$2,980
+6.0%
$2,682–$3,278
3BR
$3,420
$3,600
+5.3%
$3,240–$3,960
4BR
$3,800
$4,060
+6.8%
$3,654–$4,466
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Far Hills, NJ
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$2,210
$2,410
$2,980
$3,600
$4,060
FY 2026
$2,050
$2,260
$2,810
$3,420
$3,800
FY 2025
$1,830
$2,070
$2,570
$3,140
$3,490
FY 2024
$1,950
$2,210
$2,760
$3,370
$3,750
FY 2023
$1,840
$2,110
$2,640
$3,240
$3,630
Questions about Far Hills, NJ rents
How much will Section 8 pay for a two-bedroom in Far Hills, 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 $2,980 it would be $2,682 to $3,278. 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 Far Hills, NJ in?
Far Hills, 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 Far Hills, NJ for FY 2027?
The two-bedroom FMR rose 6.0%, from $2,810 in FY 2026 to $2,980 in FY 2027. Since FY 2023 it has risen 12.9%.
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