FMR is below market; voucher rent may lag private rents.
0.50
1 BR
1 BR- 07977
0.76ratio
FMR$2,200
Market$2,890
vs market-$690
FMR is below market; voucher rent may lag private rents.
0.76
2 BR
2 BR- 07977
0.86ratio
FMR$2,750
Market$3,180
vs market-$430
FMR is below market; voucher rent may lag private rents.
0.86
3 BR
3 BR- 07977
0.87ratio
FMR$3,280
Market$3,770
vs market-$490
FMR is below market; voucher rent may lag private rents.
0.87
4 BR
4 BR- 07977
0.73ratio
FMR$3,680
Market$5,020
vs market-$1,340
FMR is below market; voucher rent may lag private rents.
0.73
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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Peapack, NJ fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Peapack, NJ is $2,750 a month. That is up 8.7% from $2,530 in FY 2026. Peapack 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 Peapack is 23% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Peapack, NJ
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,840
$2,050
+11.4%
$1,845–$2,255
1BR
$2,010
$2,200
+9.5%
$1,980–$2,420
2BR
$2,530
$2,750
+8.7%
$2,475–$3,025
3BR
$3,030
$3,280
+8.3%
$2,952–$3,608
4BR
$3,350
$3,680
+9.9%
$3,312–$4,048
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Peapack, NJ
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$2,050
$2,200
$2,750
$3,280
$3,680
FY 2026
$1,840
$2,010
$2,530
$3,030
$3,350
FY 2025
$1,610
$1,810
$2,270
$2,740
$3,010
FY 2024
$1,640
$1,840
$2,320
$2,810
$3,090
FY 2023
$1,300
$1,470
$1,860
$2,260
$2,500
Questions about Peapack, NJ rents
How much will Section 8 pay for a two-bedroom in Peapack, 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 $2,750 it would be $2,475 to $3,025. 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 Peapack, NJ in?
Peapack, 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 Peapack, NJ for FY 2027?
The two-bedroom FMR rose 8.7%, from $2,530 in FY 2026 to $2,750 in FY 2027. Since FY 2023 it has risen 47.8%.
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