FMR is below market; voucher rent may lag private rents.
0.62
1 BR
1 BR- 07027
0.77ratio
FMR$1,860
Market$2,420
vs market-$560
FMR is below market; voucher rent may lag private rents.
0.77
2 BR
2 BR- 07027
0.68ratio
FMR$2,250
Market$3,310
vs market-$1,060
FMR is below market; voucher rent may lag private rents.
0.68
3 BR
3 BR- 07027
0.69ratio
FMR$2,810
Market$4,060
vs market-$1,250
FMR is below market; voucher rent may lag private rents.
0.69
4 BR
4 BR- 07027
0.73ratio
FMR$3,210
Market$4,380
vs market-$1,170
FMR is below market; voucher rent may lag private rents.
0.73
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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Garwood, NJ fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Garwood, NJ is $2,250 a month. That is down 2.2% from $2,300 in FY 2026. Garwood 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.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Garwood, NJ
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,680
$1,650
−1.8%
$1,485–$1,815
1BR
$1,900
$1,860
−2.1%
$1,674–$2,046
2BR
$2,300
$2,250
−2.2%
$2,025–$2,475
3BR
$2,880
$2,810
−2.4%
$2,529–$3,091
4BR
$3,270
$3,210
−1.8%
$2,889–$3,531
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Garwood, NJ
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,650
$1,860
$2,250
$2,810
$3,210
FY 2026
$1,680
$1,900
$2,300
$2,880
$3,270
FY 2025
$1,690
$1,930
$2,330
$2,930
$3,340
FY 2024
$1,580
$1,830
$2,200
$2,780
$3,210
FY 2023
$1,310
$1,550
$1,860
$2,360
$2,770
Questions about Garwood, NJ rents
How much will Section 8 pay for a two-bedroom in Garwood, 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 $2,250 it would be $2,025 to $2,475. 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 Garwood, NJ in?
Garwood, 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 Garwood, NJ for FY 2027?
The two-bedroom FMR fell 2.2%, from $2,300 in FY 2026 to $2,250 in FY 2027. Since FY 2023 it has risen 21.0%.
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