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Hudson County/Union City/07087

07087

ZIPSAFMR
Hudson County, NJ
Zillow

ZIP Investment Score

36Below average

095130300
BRFMR
Eff. Rent
0 BR$2,150$1,990
1 BR$2,200$2,320
2 BR$2,440$2,680
3 BR$2,960$3,040
4 BR$3,470$3,080
5 BR$3,990Not available
6 BR$4,589Not available
7 BR$5,277Not available
8 BR$6,069Not available

Purchase Price Calculator

Maximum purchase price
$336,330

Cost breakdown

+Likely effective rent$2,680
HUD FMR$2,440
Market rent$2,880
Est. payment standard (110%)Used$2,680
-Principal and interest-$1,701
Loan amount$269,064
Down payment$67,266
Rate6.50%
Term30 years
-Operating costs-$779
Property taxes-$336
Insurance-$175
Utilities$0
HOA$0
Management-$268
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$42,701(63.5% ROI)
Projected value
$362,191
Return breakdown
Property appreciation+$25,861
Loan principal paid down+$9,640
Rental cash flow+$7,200
5-year hold
+$73,387(109.1% ROI)
Projected value
$380,527
Return breakdown
Property appreciation+$44,197
Loan principal paid down+$17,191
Rental cash flow+$12,000
10-year hold
+$159,163(236.6% ROI)
Projected value
$430,531
Return breakdown
Property appreciation+$94,201
Loan principal paid down+$40,962
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.08
1 BR
0.92
2 BR
0.85
3 BR
0.96
4 BR
1.13
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 07087 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 07087 (Union City, NJ) is $2,440 a month. That is up 2.5% from $2,380 in FY 2026. Union City is in the Jersey City, NJ HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 21 ZIP codes in Hudson County, 07087 has the 20th-highest two-bedroom rent (county range $2,190–$4,190). The median county two-bedroom FMR in New Jersey is $2,233, so ZIP 07087 is 9% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 07087
BedroomsFY 2027Change90–110% range
Studio$2,150+3.9%$1,935–$2,365
1BR$2,200+3.8%$1,980–$2,420
2BR$2,440+2.5%$2,196–$2,684
3BR$2,960+2.1%$2,664–$3,256
4BR$3,470+1.8%$3,123–$3,817

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 07087
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,150$2,200$2,440$2,960$3,470
FY 2026$2,070$2,120$2,380$2,900$3,410
FY 2025$1,800$1,830$2,070$2,570$2,870
FY 2024$1,760$1,790$2,030$2,520$2,810
FY 2023$1,610$1,660$1,900$2,350$2,550

Two-bedroom rent in nearby Hudson County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 07087
07029$2,860+17.2%
07030$4,190+71.7%
07031$2,190−10.2%
07032$2,600+6.6%
07047$3,030+24.2%
07086$3,750+53.7%
07087Current$2,440—
07093$2,620+7.4%
07094$3,480+42.6%
07096$2,790+14.3%
07097$2,790+14.3%
07099$2,790+14.3%

Questions about ZIP 07087 rents

How much will Section 8 pay for a two-bedroom in ZIP 07087?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,440, that basic range is $2,196 to $2,684 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 07087 in?

ZIP 07087 is in the Jersey City, 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 07087 for FY 2027?

The two-bedroom FMR rose 2.5%, from $2,380 in FY 2026 to $2,440 in FY 2027. Since FY 2023 it has risen 28.4%.

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