FMR is below market; voucher rent may lag private rents.
0.83
1 BR
1 BR- 07440
0.94ratio
FMR$2,200
Market$2,330
vs market-$130
FMR is near market; voucher and private rents are aligned.
0.94
2 BR
2 BR- 07440
0.86ratio
FMR$2,640
Market$3,060
vs market-$420
FMR is below market; voucher rent may lag private rents.
0.86
3 BR
3 BR- 07440
0.88ratio
FMR$3,280
Market$3,720
vs market-$440
FMR is below market; voucher rent may lag private rents.
0.88
4 BR
4 BR- 07440
0.94ratio
FMR$3,810
Market$4,050
vs market-$240
FMR is near market; voucher and private rents are aligned.
0.94
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
--
Pequannock, NJ fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Pequannock, NJ is $2,640 a month. That is up 0.8% from $2,620 in FY 2026. Pequannock 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 Pequannock is 18% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Pequannock, NJ
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,930
$1,950
+1.0%
$1,755–$2,145
1BR
$2,180
$2,200
+0.9%
$1,980–$2,420
2BR
$2,620
$2,640
+0.8%
$2,376–$2,904
3BR
$3,270
$3,280
+0.3%
$2,952–$3,608
4BR
$3,780
$3,810
+0.8%
$3,429–$4,191
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Pequannock, NJ
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,950
$2,200
$2,640
$3,280
$3,810
FY 2026
$1,930
$2,180
$2,620
$3,270
$3,780
FY 2025
$1,740
$1,980
$2,400
$3,020
$3,440
FY 2024
$1,500
$1,730
$2,090
$2,640
$3,050
FY 2023
$1,260
$1,520
$1,830
$2,330
$2,790
Questions about Pequannock, NJ rents
How much will Section 8 pay for a two-bedroom in Pequannock, 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 $2,640 it would be $2,376 to $2,904. 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 Pequannock, NJ in?
Pequannock, 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 Pequannock, NJ for FY 2027?
The two-bedroom FMR rose 0.8%, from $2,620 in FY 2026 to $2,640 in FY 2027. Since FY 2023 it has risen 44.3%.
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