FMR is near market; voucher and private rents are aligned.
1.01
1 BR
1 BR- 08069
1.01ratio
FMR$1,440
Market$1,420
vs market+$20
FMR is near market; voucher and private rents are aligned.
1.01
2 BR
2 BR- 08069
1.04ratio
FMR$1,720
Market$1,650
vs market+$70
FMR is near market; voucher and private rents are aligned.
1.04
3 BR
3 BR- 08069
1.02ratio
FMR$2,050
Market$2,000
vs market+$50
FMR is near market; voucher and private rents are aligned.
1.02
4 BR
4 BR- 08069
0.93ratio
FMR$2,260
Market$2,420
vs market-$160
FMR is near market; voucher and private rents are aligned.
0.93
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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Penns Grove, NJ fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Penns Grove, NJ is $1,720 a month. That is up 4.2% from $1,650 in FY 2026. Penns Grove is in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. The median county two-bedroom FMR in New Jersey is $2,233, so Penns Grove is 23% below it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Penns Grove, NJ
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,270
$1,330
+4.7%
$1,197–$1,463
1BR
$1,390
$1,440
+3.6%
$1,296–$1,584
2BR
$1,650
$1,720
+4.2%
$1,548–$1,892
3BR
$1,980
$2,050
+3.5%
$1,845–$2,255
4BR
$2,210
$2,260
+2.3%
$2,034–$2,486
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Penns Grove, NJ
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,330
$1,440
$1,720
$2,050
$2,260
FY 2026
$1,270
$1,390
$1,650
$1,980
$2,210
FY 2025
$1,260
$1,390
$1,660
$2,000
$2,270
FY 2024
$1,210
$1,340
$1,610
$1,950
$2,250
FY 2023
$1,040
$1,170
$1,410
$1,720
$1,990
Questions about Penns Grove, NJ rents
How much will Section 8 pay for a two-bedroom in Penns Grove, NJ?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,720, that basic range is $1,548 to $1,892 a month. 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 Penns Grove, NJ in?
Penns Grove, NJ is in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.
How much did fair market rent change in Penns Grove, NJ for FY 2027?
The two-bedroom FMR rose 4.2%, from $1,650 in FY 2026 to $1,720 in FY 2027. Since FY 2023 it has risen 22.0%.
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