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Passaic County/Garfield/07026

07026

ZIPSAFMR
Passaic County, NJ
Zillow

ZIP Investment Score

45Below average

095130300
BRFMR
Eff. Rent
0 BR$1,660$1,830
1 BR$1,860$1,800
2 BR$2,140$2,350
3 BR$2,600$2,860
4 BR$3,280$3,330
5 BR$3,772Not available
6 BR$4,338Not available
7 BR$4,988Not available
8 BR$5,737Not available

Purchase Price Calculator

Maximum purchase price
$287,293

Cost breakdown

+Likely effective rent$2,350
HUD FMR$2,140
Market rent$2,510
Est. payment standard (110%)Used$2,350
-Principal and interest-$1,453
Loan amount$229,834
Down payment$57,459
Rate6.50%
Term30 years
-Operating costs-$697
Property taxes-$287
Insurance-$175
Utilities$0
HOA$0
Management-$235
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$37,525(65.3% ROI)
Projected value
$309,383
Return breakdown
Property appreciation+$22,090
Loan principal paid down+$8,234
Rental cash flow+$7,200
5-year hold
+$64,437(112.1% ROI)
Projected value
$325,045
Return breakdown
Property appreciation+$37,753
Loan principal paid down+$14,684
Rental cash flow+$12,000
10-year hold
+$139,456(242.7% ROI)
Projected value
$367,759
Return breakdown
Property appreciation+$80,466
Loan principal paid down+$34,990
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.69
1 BR
1.03
2 BR
0.85
3 BR
0.83
4 BR
0.98
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 07026 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 07026 (Garfield, NJ) is $2,140 a month. That is up 0.5% from $2,130 in FY 2026. Garfield 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, 07026 has the 24th-highest two-bedroom rent (county range $1,610–$3,190). The median county two-bedroom FMR in New Jersey is $2,233, so ZIP 07026 is 4% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 07026
BedroomsFY 2027Change90–110% range
Studio$1,660+1.8%$1,494–$1,826
1BR$1,8600.0%$1,674–$2,046
2BR$2,140+0.5%$1,926–$2,354
3BR$2,6000.0%$2,340–$2,860
4BR$3,280−1.2%$2,952–$3,608

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 07026
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,660$1,860$2,140$2,600$3,280
FY 2026$1,630$1,860$2,130$2,600$3,320
FY 2025$1,370$1,600$1,830$2,250$2,850
FY 2024$1,300$1,520$1,750$2,170$2,720
FY 2023$1,240$1,480$1,720$2,140$2,680

Two-bedroom rent in nearby Passaic County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 07026
07006$2,650+23.8%
07009$2,520+17.8%
07011$2,240+4.7%
07012$2,210+3.3%
07013$2,310+7.9%
07014$2,770+29.4%
07015$2,080−2.8%
07026Current$2,140—
07043$3,190+49.1%
07055$1,920−10.3%
07070$2,390+11.7%
07110$2,310+7.9%

Questions about ZIP 07026 rents

How much will Section 8 pay for a two-bedroom in ZIP 07026?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,140, that basic range is $1,926 to $2,354 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 07026 in?

ZIP 07026 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 07026 for FY 2027?

The two-bedroom FMR rose 0.5%, from $2,130 in FY 2026 to $2,140 in FY 2027. Since FY 2023 it has risen 24.4%.

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