FMR is near market; voucher and private rents are aligned.
0.94
1 BR
1 BR- 08850
0.98ratio
FMR$1,930
Market$1,960
vs market-$30
FMR is near market; voucher and private rents are aligned.
0.98
2 BR
2 BR- 08850
0.90ratio
FMR$2,410
Market$2,680
vs market-$270
FMR is below market; voucher rent may lag private rents.
0.90
3 BR
3 BR- 08850
0.86ratio
FMR$2,870
Market$3,350
vs market-$480
FMR is below market; voucher rent may lag private rents.
0.86
4 BR
4 BR- 08850
0.86ratio
FMR$3,220
Market$3,750
vs market-$530
FMR is below market; voucher rent may lag private rents.
0.86
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
--
Milltown, NJ fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Milltown, NJ is $2,410 a month. That is down 1.2% from $2,440 in FY 2026. Milltown 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 Milltown is 8% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Milltown, NJ
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,770
$1,790
+1.1%
$1,611–$1,969
1BR
$1,940
$1,930
−0.5%
$1,737–$2,123
2BR
$2,440
$2,410
−1.2%
$2,169–$2,651
3BR
$2,930
$2,870
−2.0%
$2,583–$3,157
4BR
$3,240
$3,220
−0.6%
$2,898–$3,542
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Milltown, NJ
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,790
$1,930
$2,410
$2,870
$3,220
FY 2026
$1,770
$1,940
$2,440
$2,930
$3,240
FY 2025
$1,540
$1,730
$2,180
$2,630
$2,890
FY 2024
$1,700
$1,900
$2,400
$2,910
$3,200
FY 2023
$1,410
$1,600
$2,030
$2,470
$2,730
Questions about Milltown, NJ rents
How much will Section 8 pay for a two-bedroom in Milltown, 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 $2,410 it would be $2,169 to $2,651. 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 Milltown, NJ in?
Milltown, 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 Milltown, NJ for FY 2027?
The two-bedroom FMR fell 1.2%, from $2,440 in FY 2026 to $2,410 in FY 2027. Since FY 2023 it has risen 18.7%.
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