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Essex County/Newark/07105

07105

ZIPSAFMR
Essex County, NJ
Zillow

ZIP Investment Score

55Below average

095130300
BRFMR
Eff. Rent
0 BR$1,480$1,630
1 BR$1,670$1,840
2 BR$2,020$2,220
3 BR$2,520$2,620
4 BR$2,880$2,830
5 BR$3,312Not available
6 BR$3,809Not available
7 BR$4,380Not available
8 BR$5,037Not available

Purchase Price Calculator

Maximum purchase price
$267,975

Cost breakdown

+Likely effective rent$2,220
HUD FMR$2,020
Market rent$2,420
Est. payment standard (110%)Used$2,220
-Principal and interest-$1,355
Loan amount$214,380
Down payment$53,595
Rate6.50%
Term30 years
-Operating costs-$665
Property taxes-$268
Insurance-$175
Utilities$0
HOA$0
Management-$222
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$35,485(66.2% ROI)
Projected value
$288,579
Return breakdown
Property appreciation+$20,605
Loan principal paid down+$7,681
Rental cash flow+$7,200
5-year hold
+$60,911(113.7% ROI)
Projected value
$303,189
Return breakdown
Property appreciation+$35,214
Loan principal paid down+$13,697
Rental cash flow+$12,000
10-year hold
+$131,692(245.7% ROI)
Projected value
$343,030
Return breakdown
Property appreciation+$75,056
Loan principal paid down+$32,637
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.63
1 BR
0.78
2 BR
0.83
3 BR
0.94
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 07105 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 07105 (Newark, NJ) is $2,020 a month. That is up 3.6% from $1,950 in FY 2026. Newark 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 39 ZIP codes in Essex County, 07105 has the 29th-highest two-bedroom rent (county range $1,990–$3,350). The median county two-bedroom FMR in New Jersey is $2,233, so ZIP 07105 is 10% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 07105
BedroomsFY 2027Change90–110% range
Studio$1,480+3.5%$1,332–$1,628
1BR$1,670+3.7%$1,503–$1,837
2BR$2,020+3.6%$1,818–$2,222
3BR$2,520+3.3%$2,268–$2,772
4BR$2,880+4.0%$2,592–$3,168

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 07105
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,480$1,670$2,020$2,520$2,880
FY 2026$1,430$1,610$1,950$2,440$2,770
FY 2025$1,310$1,500$1,810$2,280$2,590
FY 2024$1,190$1,370$1,650$2,090$2,410
FY 2023$980$1,160$1,390$1,760$2,070

Two-bedroom rent in nearby Essex County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 07105
07101$2,110+4.5%
07102$1,990−1.5%
07103$1,990−1.5%
07104$1,990−1.5%
07105Current$2,020—
07106$1,990−1.5%
07107$1,990−1.5%
07108$1,990−1.5%
07109$2,300+13.9%
07110$2,310+14.4%
07111$2,040+1.0%
07112$1,990−1.5%

Questions about ZIP 07105 rents

How much will Section 8 pay for a two-bedroom in ZIP 07105?

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 $2,020 it would be $1,818 to $2,222. 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 07105 in?

ZIP 07105 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 07105 for FY 2027?

The two-bedroom FMR rose 3.6%, from $1,950 in FY 2026 to $2,020 in FY 2027. Since FY 2023 it has risen 45.3%.

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