FMR is below market; voucher rent may lag private rents.
0.82
1 BR
1 BR- 07046
0.94ratio
FMR$2,060
Market$2,190
vs market-$130
FMR is near market; voucher and private rents are aligned.
0.94
2 BR
2 BR- 07046
0.87ratio
FMR$2,480
Market$2,840
vs market-$360
FMR is below market; voucher rent may lag private rents.
0.87
3 BR
3 BR- 07046
0.89ratio
FMR$3,100
Market$3,490
vs market-$390
FMR is below market; voucher rent may lag private rents.
0.89
4 BR
4 BR- 07046
0.85ratio
FMR$3,540
Market$4,180
vs market-$640
FMR is below market; voucher rent may lag private rents.
0.85
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
--
Mountain Lakes, NJ fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Mountain Lakes, NJ is $2,480 a month. That is down 0.4% from $2,490 in FY 2026. Mountain Lakes 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 Mountain Lakes is 11% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Mountain Lakes, NJ
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,820
$1,820
0.0%
$1,638–$2,002
1BR
$2,060
$2,060
0.0%
$1,854–$2,266
2BR
$2,490
$2,480
−0.4%
$2,232–$2,728
3BR
$3,110
$3,100
−0.3%
$2,790–$3,410
4BR
$3,540
$3,540
0.0%
$3,186–$3,894
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Mountain Lakes, NJ
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,820
$2,060
$2,480
$3,100
$3,540
FY 2026
$1,820
$2,060
$2,490
$3,110
$3,540
FY 2025
$1,750
$1,990
$2,410
$3,030
$3,450
FY 2024
$1,560
$1,800
$2,170
$2,740
$3,170
FY 2023
$1,240
$1,470
$1,760
$2,230
$2,620
Questions about Mountain Lakes, NJ rents
How much will Section 8 pay for a two-bedroom in Mountain Lakes, 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 $2,480 it would be $2,232 to $2,728. 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 Mountain Lakes, NJ in?
Mountain Lakes, 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 Mountain Lakes, NJ for FY 2027?
The two-bedroom FMR fell 0.4%, from $2,490 in FY 2026 to $2,480 in FY 2027. Since FY 2023 it has risen 40.9%.
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