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Union County/Westfield/07090

07090

ZIPSAFMR
Union County, NJ
Zillow

ZIP Investment Score

48Below average

095130300
BRFMR
Eff. Rent
0 BR$2,240$2,460
1 BR$2,540$2,270
2 BR$3,060$3,270
3 BR$3,820$4,180
4 BR$4,370$4,750
5 BR$5,026Not available
6 BR$5,779Not available
7 BR$6,646Not available
8 BR$7,643Not available

Purchase Price Calculator

Maximum purchase price
$424,004

Cost breakdown

+Likely effective rent$3,270
HUD FMR$3,060
Market rent$3,380
Est. payment standard (107%)Used$3,270
-Principal and interest-$2,144
Loan amount$339,203
Down payment$84,801
Rate6.50%
Term30 years
-Operating costs-$926
Property taxes-$424
Insurance-$175
Utilities$0
HOA$0
Management-$327
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$51,955(61.3% ROI)
Projected value
$456,606
Return breakdown
Property appreciation+$32,602
Loan principal paid down+$12,153
Rental cash flow+$7,200
5-year hold
+$89,389(105.4% ROI)
Projected value
$479,722
Return breakdown
Property appreciation+$55,718
Loan principal paid down+$21,672
Rental cash flow+$12,000
10-year hold
+$194,397(229.2% ROI)
Projected value
$542,761
Return breakdown
Property appreciation+$118,757
Loan principal paid down+$51,640
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.85
1 BR
1.12
2 BR
0.91
3 BR
0.87
4 BR
0.88
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 07090 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 07090 (Westfield, NJ) is $3,060 a month. That is unchanged from FY 2026. Westfield 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, 07090 has the 4th-highest two-bedroom rent (county range $1,990–$3,350). The median county two-bedroom FMR in New Jersey is $2,233, so ZIP 07090 is 37% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 07090
BedroomsFY 2027Change90–110% range
Studio$2,2400.0%$2,016–$2,464
1BR$2,540+0.4%$2,286–$2,794
2BR$3,0600.0%$2,754–$3,366
3BR$3,820−0.3%$3,438–$4,202
4BR$4,370+0.5%$3,933–$4,807

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 07090
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,240$2,540$3,060$3,820$4,370
FY 2026$2,240$2,530$3,060$3,830$4,350
FY 2025$2,120$2,420$2,930$3,690$4,200
FY 2024$1,840$2,120$2,550$3,230$3,730
FY 2023$1,480$1,760$2,110$2,680$3,150

Two-bedroom rent in nearby Union County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 07090
07067$2,800−8.5%
07076$2,580−15.7%
07078$3,350+9.5%
07080$2,760−9.8%
07081$2,930−4.2%
07083$2,730−10.8%
07088$2,790−8.8%
07090Current$3,060—
07091$2,300−24.8%
07092$2,960−3.3%
07111$2,040−33.3%
07112$1,990−35.0%

Questions about ZIP 07090 rents

How much will Section 8 pay for a two-bedroom in ZIP 07090?

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 $3,060 it would be $2,754 to $3,366. 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 07090 in?

ZIP 07090 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 07090 for FY 2027?

The two-bedroom FMR was unchanged at $3,060 in FY 2027. Since FY 2023 it has risen 45.0%.

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