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Passaic County/Caldwell/07006

07006

ZIPSAFMR
Passaic County, NJ
Zillow

ZIP Investment Score

45Below average

095130300
BRFMR
Eff. Rent
0 BR$1,940$2,130
1 BR$2,200$2,420
2 BR$2,650$2,890
3 BR$3,300$3,370
4 BR$3,780$4,110
5 BR$4,347Not available
6 BR$4,999Not available
7 BR$5,749Not available
8 BR$6,611Not available

Purchase Price Calculator

Maximum purchase price
$367,536

Cost breakdown

+Likely effective rent$2,890
HUD FMR$2,650
Market rent$3,020
Est. payment standard (109%)Used$2,890
-Principal and interest-$1,858
Loan amount$294,029
Down payment$73,507
Rate6.50%
Term30 years
-Operating costs-$832
Property taxes-$368
Insurance-$175
Utilities$0
HOA$0
Management-$289
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$45,994(62.6% ROI)
Projected value
$395,796
Return breakdown
Property appreciation+$28,260
Loan principal paid down+$10,534
Rental cash flow+$7,200
5-year hold
+$79,083(107.6% ROI)
Projected value
$415,834
Return breakdown
Property appreciation+$48,297
Loan principal paid down+$18,786
Rental cash flow+$12,000
10-year hold
+$171,704(233.6% ROI)
Projected value
$470,478
Return breakdown
Property appreciation+$102,941
Loan principal paid down+$44,763
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.83
1 BR
0.85
2 BR
0.88
3 BR
0.97
4 BR
0.88
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 07006 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 07006 (Caldwell, NJ) is $2,650 a month. That is down 0.7% from $2,670 in FY 2026. Caldwell is in the Bergen-Passaic, NJ HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 43 ZIP codes in Passaic County, 07006 is tied for the 7th-highest two-bedroom rent (county range $1,610–$3,190). The median county two-bedroom FMR in New Jersey is $2,233, so ZIP 07006 is 19% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 07006
BedroomsFY 2027Change90–110% range
Studio$1,940−0.5%$1,746–$2,134
1BR$2,200−0.5%$1,980–$2,420
2BR$2,650−0.7%$2,385–$2,915
3BR$3,300−1.2%$2,970–$3,630
4BR$3,780−0.5%$3,402–$4,158

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 07006
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,940$2,200$2,650$3,300$3,780
FY 2026$1,950$2,210$2,670$3,340$3,800
FY 2025$1,910$2,170$2,630$3,310$3,770
FY 2024$1,690$1,950$2,350$2,970$3,430
FY 2023$1,360$1,610$1,930$2,450$2,880

Two-bedroom rent in nearby Passaic County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 07006
07006Current$2,650—
07009$2,520−4.9%
07011$2,240−15.5%
07012$2,210−16.6%
07013$2,310−12.8%
07014$2,770+4.5%
07015$2,080−21.5%
07026$2,140−19.2%
07043$3,190+20.4%
07055$1,920−27.5%
07070$2,390−9.8%
07110$2,310−12.8%

Questions about ZIP 07006 rents

How much will Section 8 pay for a two-bedroom in ZIP 07006?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,650, that basic range is $2,385 to $2,915 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 07006 in?

ZIP 07006 is in the Bergen-Passaic, 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 07006 for FY 2027?

The two-bedroom FMR fell 0.7%, from $2,670 in FY 2026 to $2,650 in FY 2027. Since FY 2023 it has risen 37.3%.

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