FMR is below market; voucher rent may lag private rents.
0.68
1 BR
1 BR- 08732
0.73ratio
FMR$1,710
Market$2,330
vs market-$620
FMR is below market; voucher rent may lag private rents.
0.73
2 BR
2 BR- 08732
0.81ratio
FMR$2,110
Market$2,600
vs market-$490
FMR is below market; voucher rent may lag private rents.
0.81
3 BR
3 BR- 08732
0.89ratio
FMR$2,710
Market$3,040
vs market-$330
FMR is below market; voucher rent may lag private rents.
0.89
4 BR
4 BR- 08732
0.81ratio
FMR$3,000
Market$3,710
vs market-$710
FMR is below market; voucher rent may lag private rents.
0.81
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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Island Heights, NJ fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Island Heights, NJ is $2,110 a month. That is down 5.4% from $2,230 in FY 2026. Island Heights is in the Monmouth-Ocean, NJ HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. The median county two-bedroom FMR in New Jersey is $2,233, so Island Heights is 6% below it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Island Heights, NJ
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,610
$1,540
−4.3%
$1,386–$1,694
1BR
$1,810
$1,710
−5.5%
$1,539–$1,881
2BR
$2,230
$2,110
−5.4%
$1,899–$2,321
3BR
$2,920
$2,710
−7.2%
$2,439–$2,981
4BR
$3,230
$3,000
−7.1%
$2,700–$3,300
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Island Heights, NJ
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,540
$1,710
$2,110
$2,710
$3,000
FY 2026
$1,610
$1,810
$2,230
$2,920
$3,230
FY 2025
$1,440
$1,620
$2,000
$2,660
$2,960
FY 2024
$1,470
$1,640
$2,030
$2,760
$3,080
FY 2023
$1,240
$1,390
$1,740
$2,380
$2,650
Questions about Island Heights, NJ rents
How much will Section 8 pay for a two-bedroom in Island Heights, NJ?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,110, that basic range is $1,899 to $2,321 a month. 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 Island Heights, NJ in?
Island Heights, NJ is in the Monmouth-Ocean, NJ HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.
How much did fair market rent change in Island Heights, NJ for FY 2027?
The two-bedroom FMR fell 5.4%, from $2,230 in FY 2026 to $2,110 in FY 2027. Since FY 2023 it has risen 21.3%.
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