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Bergen County/North Bergen/07047

07047

ZIPSAFMR
Bergen County, NJ
Zillow

ZIP Investment Score

48Below average

095130300
BRFMR
Eff. Rent
0 BR$2,670$2,140
1 BR$2,730$2,580
2 BR$3,030$3,330
3 BR$3,680$3,150
4 BR$4,320$3,320
5 BR$4,968Not available
6 BR$5,713Not available
7 BR$6,570Not available
8 BR$7,556Not available

Purchase Price Calculator

Maximum purchase price
$432,920

Cost breakdown

+Likely effective rent$3,330
HUD FMR$3,030
Market rent$3,860
Est. payment standard (110%)Used$3,330
-Principal and interest-$2,189
Loan amount$346,336
Down payment$86,584
Rate6.50%
Term30 years
-Operating costs-$941
Property taxes-$433
Insurance-$175
Utilities$0
HOA$0
Management-$333
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$52,896(61.1% ROI)
Projected value
$466,208
Return breakdown
Property appreciation+$33,288
Loan principal paid down+$12,408
Rental cash flow+$7,200
5-year hold
+$91,017(105.1% ROI)
Projected value
$489,809
Return breakdown
Property appreciation+$56,889
Loan principal paid down+$22,127
Rental cash flow+$12,000
10-year hold
+$197,980(228.7% ROI)
Projected value
$554,174
Return breakdown
Property appreciation+$121,254
Loan principal paid down+$52,726
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.25
1 BR
1.06
2 BR
0.78
3 BR
1.17
4 BR
1.30
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 07047 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 07047 (North Bergen, NJ) is $3,030 a month. That is up 2.0% from $2,970 in FY 2026. North Bergen 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 74 ZIP codes in Bergen County, 07047 has the 17th-highest two-bedroom rent (county range $1,440–$3,420). The median county two-bedroom FMR in New Jersey is $2,233, so ZIP 07047 is 36% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 07047
BedroomsFY 2027Change90–110% range
Studio$2,670+3.1%$2,403–$2,937
1BR$2,730+3.4%$2,457–$3,003
2BR$3,030+2.0%$2,727–$3,333
3BR$3,680+1.7%$3,312–$4,048
4BR$4,320+1.6%$3,888–$4,752

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 07047
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,670$2,730$3,030$3,680$4,320
FY 2026$2,590$2,640$2,970$3,620$4,250
FY 2025$2,090$2,120$2,400$2,950$3,360
FY 2024$2,130$2,170$2,460$3,060$3,410
FY 2023$1,900$1,960$2,250$2,780$3,020

Two-bedroom rent in nearby Bergen County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 07047
07020$3,400+12.2%
07022$2,120−30.0%
07024$3,360+10.9%
07026$2,140−29.4%
07031$2,190−27.7%
07032$2,600−14.2%
07047Current$3,030—
07057$1,990−34.3%
07070$2,390−21.1%
07071$2,280−24.8%
07072$2,010−33.7%
07073$2,390−21.1%

Questions about ZIP 07047 rents

How much will Section 8 pay for a two-bedroom in ZIP 07047?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $3,030, that basic range is $2,727 to $3,333 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 07047 in?

ZIP 07047 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 07047 for FY 2027?

The two-bedroom FMR rose 2.0%, from $2,970 in FY 2026 to $3,030 in FY 2027. Since FY 2023 it has risen 34.7%.

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