FMR is below market; voucher rent may lag private rents.
0.46
1 BR
1 BR- 07078
1.14ratio
FMR$2,780
Market$2,440
vs market+$340
FMR is above market; underwrite to market rent.
1.14
2 BR
2 BR- 07078
0.80ratio
FMR$3,350
Market$4,180
vs market-$830
FMR is below market; voucher rent may lag private rents.
0.80
3 BR
3 BR- 07078
0.88ratio
FMR$4,180
Market$4,740
vs market-$560
FMR is below market; voucher rent may lag private rents.
0.88
4 BR
4 BR- 07078
0.71ratio
FMR$4,780
Market$6,700
vs market-$1,920
FMR is below market; voucher rent may lag private rents.
0.71
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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Short Hills, NJ fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Short Hills, NJ is $3,350 a month. That is up 11.3% from $3,010 in FY 2026. Short Hills 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 Short Hills is 50% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Short Hills, NJ
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$2,200
$2,460
+11.8%
$2,214–$2,706
1BR
$2,490
$2,780
+11.6%
$2,502–$3,058
2BR
$3,010
$3,350
+11.3%
$3,015–$3,685
3BR
$3,770
$4,180
+10.9%
$3,762–$4,598
4BR
$4,280
$4,780
+11.7%
$4,302–$5,258
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Short Hills, NJ
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$2,460
$2,780
$3,350
$4,180
$4,780
FY 2026
$2,200
$2,490
$3,010
$3,770
$4,280
FY 2025
$2,130
$2,430
$2,940
$3,700
$4,210
FY 2024
$2,070
$2,380
$2,870
$3,630
$4,190
FY 2023
$1,690
$2,010
$2,410
$3,060
$3,590
Questions about Short Hills, NJ rents
How much will Section 8 pay for a two-bedroom in Short Hills, 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 $3,350 it would be $3,015 to $3,685. 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 Short Hills, NJ in?
Short Hills, 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 Short Hills, NJ for FY 2027?
The two-bedroom FMR rose 11.3%, from $3,010 in FY 2026 to $3,350 in FY 2027. Since FY 2023 it has risen 39.0%.
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