FMR is below market; voucher rent may lag private rents.
0.77
1 BR
1 BR- 08823
1.31ratio
FMR$2,550
Market$1,940
vs market+$610
FMR is above market; underwrite to market rent.
1.31
2 BR
2 BR- 08823
1.29ratio
FMR$3,180
Market$2,470
vs market+$710
FMR is above market; underwrite to market rent.
1.29
3 BR
3 BR- 08823
1.15ratio
FMR$3,790
Market$3,300
vs market+$490
FMR is above market; underwrite to market rent.
1.15
4 BR
4 BR- 08823
1.06ratio
FMR$4,250
Market$4,010
vs market+$240
FMR is near market; voucher and private rents are aligned.
1.06
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
--
Franklin Park, NJ fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Franklin Park, NJ is $3,180 a month. That is up 6.0% from $3,000 in FY 2026. Franklin Park is in the Middlesex-Somerset-Hunterdon, 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 $2,623. The median county two-bedroom FMR in New Jersey is $2,233, so Franklin Park is 42% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Franklin Park, NJ
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$2,180
$2,370
+8.7%
$2,133–$2,607
1BR
$2,390
$2,550
+6.7%
$2,295–$2,805
2BR
$3,000
$3,180
+6.0%
$2,862–$3,498
3BR
$3,600
$3,790
+5.3%
$3,411–$4,169
4BR
$3,980
$4,250
+6.8%
$3,825–$4,675
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Franklin Park, NJ
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$2,370
$2,550
$3,180
$3,790
$4,250
FY 2026
$2,180
$2,390
$3,000
$3,600
$3,980
FY 2025
$1,850
$2,080
$2,620
$3,160
$3,470
FY 2024
$1,950
$2,190
$2,760
$3,340
$3,680
FY 2023
$1,680
$1,900
$2,410
$2,930
$3,240
Questions about Franklin Park, NJ rents
How much will Section 8 pay for a two-bedroom in Franklin Park, NJ?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $2,623, which applies unless the housing authority uses Small Area FMRs, that basic range is $2,361 to $2,885 a month; under the ZIP-level Small Area FMR of $3,180 it would be $2,862 to $3,498. 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 Franklin Park, NJ in?
Franklin Park, NJ is in the Middlesex-Somerset-Hunterdon, NJ HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $2,623.
How much did fair market rent change in Franklin Park, NJ for FY 2027?
The two-bedroom FMR rose 6.0%, from $3,000 in FY 2026 to $3,180 in FY 2027. Since FY 2023 it has risen 32.0%.
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