FMR is below market; voucher rent may lag private rents.
0.50
1 BR
1 BR- 07974
0.79ratio
FMR$2,170
Market$2,740
vs market-$570
FMR is below market; voucher rent may lag private rents.
0.79
2 BR
2 BR- 07974
0.83ratio
FMR$2,620
Market$3,140
vs market-$520
FMR is below market; voucher rent may lag private rents.
0.83
3 BR
3 BR- 07974
0.69ratio
FMR$3,270
Market$4,730
vs market-$1,460
FMR is below market; voucher rent may lag private rents.
0.69
4 BR
4 BR- 07974
0.68ratio
FMR$3,740
Market$5,480
vs market-$1,740
FMR is below market; voucher rent may lag private rents.
0.68
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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New Providence, NJ fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in New Providence, NJ is $2,620 a month. That is down 3.3% from $2,710 in FY 2026. New Providence 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 New Providence is 17% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for New Providence, NJ
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,980
$1,920
−3.0%
$1,728–$2,112
1BR
$2,240
$2,170
−3.1%
$1,953–$2,387
2BR
$2,710
$2,620
−3.3%
$2,358–$2,882
3BR
$3,390
$3,270
−3.5%
$2,943–$3,597
4BR
$3,860
$3,740
−3.1%
$3,366–$4,114
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for New Providence, NJ
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,920
$2,170
$2,620
$3,270
$3,740
FY 2026
$1,980
$2,240
$2,710
$3,390
$3,860
FY 2025
$1,980
$2,260
$2,730
$3,440
$3,910
FY 2024
$1,800
$2,070
$2,500
$3,160
$3,650
FY 2023
$1,480
$1,750
$2,100
$2,660
$3,130
Questions about New Providence, NJ rents
How much will Section 8 pay for a two-bedroom in New Providence, 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 $2,620 it would be $2,358 to $2,882. 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 New Providence, NJ in?
New Providence, 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 New Providence, NJ for FY 2027?
The two-bedroom FMR fell 3.3%, from $2,710 in FY 2026 to $2,620 in FY 2027. Since FY 2023 it has risen 24.8%.
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