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Union County/Kenilworth/07033

07033

ZIPSAFMR
Union County, NJ
Zillow

ZIP Investment Score

60Below average

095130300
BRFMR
Eff. Rent
0 BR$1,990$2,180
1 BR$2,250$2,340
2 BR$2,710$2,800
3 BR$3,380$3,480
4 BR$3,870$3,730
5 BR$4,451Not available
6 BR$5,118Not available
7 BR$5,886Not available
8 BR$6,769Not available

Purchase Price Calculator

Maximum purchase price
$354,162

Cost breakdown

+Likely effective rent$2,800
HUD FMR$2,710
Market rent$2,850
Est. payment standard (103%)Used$2,800
-Principal and interest-$1,791
Loan amount$283,330
Down payment$70,832
Rate6.50%
Term30 years
-Operating costs-$809
Property taxes-$354
Insurance-$175
Utilities$0
HOA$0
Management-$280
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$44,583(62.9% ROI)
Projected value
$381,394
Return breakdown
Property appreciation+$27,232
Loan principal paid down+$10,151
Rental cash flow+$7,200
5-year hold
+$76,642(108.2% ROI)
Projected value
$400,702
Return breakdown
Property appreciation+$46,540
Loan principal paid down+$18,102
Rental cash flow+$12,000
10-year hold
+$166,329(234.8% ROI)
Projected value
$453,358
Return breakdown
Property appreciation+$99,195
Loan principal paid down+$43,134
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.87
1 BR
0.94
2 BR
0.95
3 BR
0.96
4 BR
1.04
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 07033 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 07033 (Kenilworth, NJ) is $2,710 a month. That is down 2.2% from $2,770 in FY 2026. Kenilworth 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. Among 40 ZIP codes in Union County, 07033 has the 16th-highest two-bedroom rent (county range $1,990–$3,350). The median county two-bedroom FMR in New Jersey is $2,233, so ZIP 07033 is 21% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 07033
BedroomsFY 2027Change90–110% range
Studio$1,990−2.0%$1,791–$2,189
1BR$2,250−1.7%$2,025–$2,475
2BR$2,710−2.2%$2,439–$2,981
3BR$3,380−2.6%$3,042–$3,718
4BR$3,870−1.8%$3,483–$4,257

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 07033
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,990$2,250$2,710$3,380$3,870
FY 2026$2,030$2,290$2,770$3,470$3,940
FY 2025$1,920$2,190$2,650$3,340$3,800
FY 2024$1,700$1,960$2,360$2,990$3,450
FY 2023$1,330$1,570$1,890$2,400$2,820

Two-bedroom rent in nearby Union County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 07033
07016$2,870+5.9%
07023$3,130+15.5%
07027$2,250−17.0%
07033Current$2,710—
07036$2,160−20.3%
07040$2,870+5.9%
07060$2,360−12.9%
07061$2,300−15.1%
07062$2,470−8.9%
07063$2,430−10.3%
07065$2,460−9.2%
07066$2,370−12.5%

Questions about ZIP 07033 rents

How much will Section 8 pay for a two-bedroom in ZIP 07033?

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 $2,710 it would be $2,439 to $2,981. 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 07033 in?

ZIP 07033 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 ZIP 07033 for FY 2027?

The two-bedroom FMR fell 2.2%, from $2,770 in FY 2026 to $2,710 in FY 2027. Since FY 2023 it has risen 43.4%.

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