FMR is below market; voucher rent may lag private rents.
0.67
1 BR
1 BR- 07041
0.82ratio
FMR$2,180
Market$2,670
vs market-$490
FMR is below market; voucher rent may lag private rents.
0.82
2 BR
2 BR- 07041
0.67ratio
FMR$2,630
Market$3,910
vs market-$1,280
FMR is below market; voucher rent may lag private rents.
0.67
3 BR
3 BR- 07041
0.70ratio
FMR$3,280
Market$4,660
vs market-$1,380
FMR is below market; voucher rent may lag private rents.
0.70
4 BR
4 BR- 07041
0.59ratio
FMR$3,750
Market$6,340
vs market-$2,590
FMR is below market; voucher rent may lag private rents.
0.59
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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Millburn, NJ fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Millburn, NJ is $2,630 a month. That is down 1.9% from $2,680 in FY 2026. Millburn 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 Millburn is 18% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Millburn, NJ
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,960
$1,930
−1.5%
$1,737–$2,123
1BR
$2,220
$2,180
−1.8%
$1,962–$2,398
2BR
$2,680
$2,630
−1.9%
$2,367–$2,893
3BR
$3,360
$3,280
−2.4%
$2,952–$3,608
4BR
$3,810
$3,750
−1.6%
$3,375–$4,125
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Millburn, NJ
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,930
$2,180
$2,630
$3,280
$3,750
FY 2026
$1,960
$2,220
$2,680
$3,360
$3,810
FY 2025
$1,900
$2,170
$2,620
$3,300
$3,750
FY 2024
$1,710
$1,970
$2,380
$3,010
$3,480
FY 2023
$1,430
$1,690
$2,030
$2,580
$3,030
Questions about Millburn, NJ rents
How much will Section 8 pay for a two-bedroom in Millburn, 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 $2,630 it would be $2,367 to $2,893. 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 Millburn, NJ in?
Millburn, 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 Millburn, NJ for FY 2027?
The two-bedroom FMR fell 1.9%, from $2,680 in FY 2026 to $2,630 in FY 2027. Since FY 2023 it has risen 29.6%.
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