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Union County/South Plainfield/07080

07080

ZIPSAFMR
Union County, NJ
Zillow

ZIP Investment Score

57Below average

095130300
BRFMR
Eff. Rent
0 BR$2,050$2,260
1 BR$2,210$2,280
2 BR$2,760$2,660
3 BR$3,290$3,150
4 BR$3,690$3,810
5 BR$4,244Not available
6 BR$4,880Not available
7 BR$5,612Not available
8 BR$6,454Not available

Purchase Price Calculator

Maximum purchase price
$333,358

Cost breakdown

+Likely effective rent$2,660
HUD FMR$2,760
Market rentUsed$2,660
Est. payment standard (98%)$2,700
-Principal and interest-$1,686
Loan amount$266,687
Down payment$66,672
Rate6.50%
Term30 years
-Operating costs-$774
Property taxes-$333
Insurance-$175
Utilities$0
HOA$0
Management-$266
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$42,387(63.6% ROI)
Projected value
$358,991
Return breakdown
Property appreciation+$25,632
Loan principal paid down+$9,555
Rental cash flow+$7,200
5-year hold
+$72,845(109.3% ROI)
Projected value
$377,164
Return breakdown
Property appreciation+$43,806
Loan principal paid down+$17,039
Rental cash flow+$12,000
10-year hold
+$157,969(236.9% ROI)
Projected value
$426,727
Return breakdown
Property appreciation+$93,369
Loan principal paid down+$40,600
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.67
1 BR
0.96
2 BR
1.04
3 BR
1.04
4 BR
0.95
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 07080 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 07080 (South Plainfield, NJ) is $2,760 a month. That is up 6.6% from $2,590 in FY 2026. South Plainfield 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, 07080 has the 14th-highest two-bedroom rent (county range $1,990–$3,350). The median county two-bedroom FMR in New Jersey is $2,233, so ZIP 07080 is 24% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 07080
BedroomsFY 2027Change90–110% range
Studio$2,050+9.0%$1,845–$2,255
1BR$2,210+7.3%$1,989–$2,431
2BR$2,760+6.6%$2,484–$3,036
3BR$3,290+5.8%$2,961–$3,619
4BR$3,690+7.6%$3,321–$4,059

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 07080
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,050$2,210$2,760$3,290$3,690
FY 2026$1,880$2,060$2,590$3,110$3,430
FY 2025$1,630$1,830$2,300$2,770$3,050
FY 2024$1,740$1,950$2,460$2,980$3,280
FY 2023$1,530$1,740$2,200$2,680$2,960

Two-bedroom rent in nearby Union County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 07080
07065$2,460−10.9%
07066$2,370−14.1%
07067$2,800+1.4%
07076$2,580−6.5%
07078$3,350+21.4%
07080Current$2,760—
07081$2,930+6.2%
07083$2,730−1.1%
07088$2,790+1.1%
07090$3,060+10.9%
07091$2,300−16.7%
07092$2,960+7.2%

Questions about ZIP 07080 rents

How much will Section 8 pay for a two-bedroom in ZIP 07080?

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 $2,760 it would be $2,484 to $3,036. 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 07080 in?

ZIP 07080 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 07080 for FY 2027?

The two-bedroom FMR rose 6.6%, from $2,590 in FY 2026 to $2,760 in FY 2027. Since FY 2023 it has risen 25.5%.

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