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NJ/Somerset County/Scotch Plains

Scotch Plains, NJ

CitySAFMR
Somerset County
Found 1 ZIP

City Median Investment Score

52Below average

095130300
BRFMR
Eff. Rent
0 BR$1,890$2,080
1 BR$2,140$2,260
2 BR$2,580$2,840
3 BR$3,220$3,540
4 BR$3,680$4,050
5 BR$4,232Not available
6 BR$4,867Not available
7 BR$5,597Not available
8 BR$6,436Not available

Purchase Price Calculator

Maximum purchase price
$360,106

Cost breakdown

+Likely effective rent$2,840
HUD FMR$2,580
Market rent$3,240
Est. payment standard (110%)Used$2,840
-Principal and interest-$1,821
Loan amount$288,085
Down payment$72,021
Rate6.50%
Term30 years
-Operating costs-$819
Property taxes-$360
Insurance-$175
Utilities$0
HOA$0
Management-$284
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$45,210(62.8% ROI)
Projected value
$387,795
Return breakdown
Property appreciation+$27,689
Loan principal paid down+$10,321
Rental cash flow+$7,200
5-year hold
+$77,727(107.9% ROI)
Projected value
$407,427
Return breakdown
Property appreciation+$47,321
Loan principal paid down+$18,406
Rental cash flow+$12,000
10-year hold
+$168,718(234.3% ROI)
Projected value
$460,967
Return breakdown
Property appreciation+$100,860
Loan principal paid down+$43,858
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.72
1 BR
0.92
2 BR
0.80
3 BR
0.79
4 BR
0.77
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

Scotch Plains, NJ fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Scotch Plains, NJ is $2,580 a month. That is up 1.6% from $2,540 in FY 2026. Scotch Plains 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 Scotch Plains is 16% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for Scotch Plains, NJ
BedroomsFY 2027Change90–110% range
Studio$1,890+1.6%$1,701–$2,079
1BR$2,140+1.9%$1,926–$2,354
2BR$2,580+1.6%$2,322–$2,838
3BR$3,220+1.3%$2,898–$3,542
4BR$3,680+1.9%$3,312–$4,048

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for Scotch Plains, NJ
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,890$2,140$2,580$3,220$3,680
FY 2026$1,860$2,100$2,540$3,180$3,610
FY 2025$1,840$2,100$2,540$3,200$3,640
FY 2024$1,660$1,910$2,300$2,910$3,360
FY 2023$1,340$1,590$1,910$2,420$2,850

Questions about Scotch Plains, NJ rents

How much will Section 8 pay for a two-bedroom in Scotch Plains, 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 $2,580 it would be $2,322 to $2,838. 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 Scotch Plains, NJ in?

Scotch Plains, 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 Scotch Plains, NJ for FY 2027?

The two-bedroom FMR rose 1.6%, from $2,540 in FY 2026 to $2,580 in FY 2027. Since FY 2023 it has risen 35.1%.

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