FMR is below market; voucher rent may lag private rents.
0.88
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
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Tax rate
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Mortgage rate
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Pennington, NJ fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Pennington, NJ is $2,790 a month. That is up 10.7% from $2,520 in FY 2026. Pennington is in the Trenton-Princeton, NJ MSA. 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 $2,242. The median county two-bedroom FMR in New Jersey is $2,233, so Pennington is 25% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Pennington, NJ
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,740
$1,940
+11.5%
$1,746–$2,134
1BR
$2,000
$2,200
+10.0%
$1,980–$2,420
2BR
$2,520
$2,790
+10.7%
$2,511–$3,069
3BR
$3,020
$3,410
+12.9%
$3,069–$3,751
4BR
$3,450
$3,830
+11.0%
$3,447–$4,213
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Pennington, NJ
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,940
$2,200
$2,790
$3,410
$3,830
FY 2026
$1,740
$2,000
$2,520
$3,020
$3,450
FY 2025
$1,780
$2,050
$2,590
$3,120
$3,510
FY 2024
$1,810
$2,070
$2,670
$3,230
$3,560
FY 2023
$1,470
$1,680
$2,200
$2,680
$2,960
Questions about Pennington, NJ rents
How much will Section 8 pay for a two-bedroom in Pennington, NJ?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $2,242, which applies unless the housing authority uses Small Area FMRs, that basic range is $2,018 to $2,466 a month; under the ZIP-level Small Area FMR of $2,790 it would be $2,511 to $3,069. 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 Pennington, NJ in?
Pennington, NJ is in the Trenton-Princeton, NJ MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $2,242.
How much did fair market rent change in Pennington, NJ for FY 2027?
The two-bedroom FMR rose 10.7%, from $2,520 in FY 2026 to $2,790 in FY 2027. Since FY 2023 it has risen 26.8%.
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