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Hudson County/Bayonne/07002

07002

ZIPSAFMR
Hudson County, NJ
Zillow

ZIP Investment Score

38Below average

095130300
BRFMR
Eff. Rent
0 BR$2,200$1,780
1 BR$2,250$2,170
2 BR$2,500$2,630
3 BR$3,040$2,650
4 BR$3,560$2,690
5 BR$4,094Not available
6 BR$4,708Not available
7 BR$5,414Not available
8 BR$6,226Not available

Purchase Price Calculator

Maximum purchase price
$328,900

Cost breakdown

+Likely effective rent$2,630
HUD FMR$2,500
Market rent$2,700
Est. payment standard (105%)Used$2,630
-Principal and interest-$1,663
Loan amount$263,120
Down payment$65,780
Rate6.50%
Term30 years
-Operating costs-$767
Property taxes-$329
Insurance-$175
Utilities$0
HOA$0
Management-$263
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$41,916(63.7% ROI)
Projected value
$354,190
Return breakdown
Property appreciation+$25,289
Loan principal paid down+$9,427
Rental cash flow+$7,200
5-year hold
+$72,031(109.5% ROI)
Projected value
$372,121
Return breakdown
Property appreciation+$43,220
Loan principal paid down+$16,811
Rental cash flow+$12,000
10-year hold
+$156,177(237.4% ROI)
Projected value
$421,020
Return breakdown
Property appreciation+$92,120
Loan principal paid down+$40,057
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.24
1 BR
1.04
2 BR
0.93
3 BR
1.15
4 BR
1.32
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 07002 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 07002 (Bayonne, NJ) is $2,500 a month. That is up 2.9% from $2,430 in FY 2026. Bayonne is in the Jersey City, NJ HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 21 ZIP codes in Hudson County, 07002 has the 18th-highest two-bedroom rent (county range $2,190–$4,190). The median county two-bedroom FMR in New Jersey is $2,233, so ZIP 07002 is 12% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 07002
BedroomsFY 2027Change90–110% range
Studio$2,200+3.8%$1,980–$2,420
1BR$2,250+4.2%$2,025–$2,475
2BR$2,500+2.9%$2,250–$2,750
3BR$3,040+2.7%$2,736–$3,344
4BR$3,560+2.3%$3,204–$3,916

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 07002
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,200$2,250$2,500$3,040$3,560
FY 2026$2,120$2,160$2,430$2,960$3,480
FY 2025$1,800$1,830$2,070$2,570$2,870
FY 2024$1,770$1,800$2,040$2,530$2,820
FY 2023$1,600$1,650$1,890$2,330$2,540

Two-bedroom rent in nearby Hudson County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 07002
07002Current$2,500—
07029$2,860+14.4%
07030$4,190+67.6%
07031$2,190−12.4%
07032$2,600+4.0%
07047$3,030+21.2%
07086$3,750+50.0%
07087$2,440−2.4%
07093$2,620+4.8%
07094$3,480+39.2%
07096$2,790+11.6%
07097$2,790+11.6%

Questions about ZIP 07002 rents

How much will Section 8 pay for a two-bedroom in ZIP 07002?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,500, that basic range is $2,250 to $2,750 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 ZIP 07002 in?

ZIP 07002 is in the Jersey City, NJ HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 07002 for FY 2027?

The two-bedroom FMR rose 2.9%, from $2,430 in FY 2026 to $2,500 in FY 2027. Since FY 2023 it has risen 32.3%.

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

County fair market rentBayonne, NJ fair market rentNJ statewide rentsWhat is SAFMR?Data sources