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Passaic County/Passaic/07055

07055

ZIPSAFMR
Passaic County, NJ
Zillow

ZIP Investment Score

37Below average

095130300
BRFMR
Eff. Rent
0 BR$1,490$1,560
1 BR$1,670$1,840
2 BR$1,920$2,110
3 BR$2,330$2,540
4 BR$2,940$2,890
5 BR$3,381Not available
6 BR$3,888Not available
7 BR$4,471Not available
8 BR$5,142Not available

Purchase Price Calculator

Maximum purchase price
$251,629

Cost breakdown

+Likely effective rent$2,110
HUD FMR$1,920
Market rent$2,360
Est. payment standard (110%)Used$2,110
-Principal and interest-$1,272
Loan amount$201,303
Down payment$50,326
Rate6.50%
Term30 years
-Operating costs-$638
Property taxes-$252
Insurance-$175
Utilities$0
HOA$0
Management-$211
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$33,760(67.1% ROI)
Projected value
$270,977
Return breakdown
Property appreciation+$19,348
Loan principal paid down+$7,212
Rental cash flow+$7,200
5-year hold
+$57,927(115.1% ROI)
Projected value
$284,695
Return breakdown
Property appreciation+$33,066
Loan principal paid down+$12,861
Rental cash flow+$12,000
10-year hold
+$125,123(248.6% ROI)
Projected value
$322,106
Return breakdown
Property appreciation+$70,477
Loan principal paid down+$30,646
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.93
1 BR
0.82
2 BR
0.81
3 BR
0.88
4 BR
1.02
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 07055 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 07055 (Passaic, NJ) is $1,920 a month. That is up 1.6% from $1,890 in FY 2026. Passaic 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, 07055 is tied for the 39th-highest two-bedroom rent (county range $1,610–$3,190). The median county two-bedroom FMR in New Jersey is $2,233, so ZIP 07055 is 14% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 07055
BedroomsFY 2027Change90–110% range
Studio$1,490+2.8%$1,341–$1,639
1BR$1,670+1.2%$1,503–$1,837
2BR$1,920+1.6%$1,728–$2,112
3BR$2,330+0.9%$2,097–$2,563
4BR$2,9400.0%$2,646–$3,234

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 07055
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,490$1,670$1,920$2,330$2,940
FY 2026$1,450$1,650$1,890$2,310$2,940
FY 2025$1,230$1,430$1,640$2,020$2,550
FY 2024$1,150$1,350$1,550$1,920$2,410
FY 2023$1,110$1,330$1,540$1,910$2,400

Two-bedroom rent in nearby Passaic County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 07055
07006$2,650+38.0%
07009$2,520+31.3%
07011$2,240+16.7%
07012$2,210+15.1%
07013$2,310+20.3%
07014$2,770+44.3%
07015$2,080+8.3%
07026$2,140+11.5%
07043$3,190+66.1%
07055Current$1,920—
07070$2,390+24.5%
07110$2,310+20.3%

Questions about ZIP 07055 rents

How much will Section 8 pay for a two-bedroom in ZIP 07055?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,920, that basic range is $1,728 to $2,112 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 07055 in?

ZIP 07055 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 07055 for FY 2027?

The two-bedroom FMR rose 1.6%, from $1,890 in FY 2026 to $1,920 in FY 2027. Since FY 2023 it has risen 24.7%.

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