07207

ZIPSAFMR

Union County, NJ

ZIP Investment Score

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,690	$1,860	7.0%
1 BR	$1,910	$2,100	6.3%
2 BR	$2,300	$2,530	6.2%
3 BR	$2,870	$3,160	5.7%
4 BR	$3,280	$3,610	5.3%
5 BR	$3,772	Not available	5.3%
6 BR	$4,338	Not available	5.3%
7 BR	$4,988	Not available	5.3%
8 BR	$5,737	Not available	5.3%

Purchase Price Calculator

Maximum purchase price

$314,040

Cost breakdown

+Likely effective rent$2,530

HUD FMR$2,300

Market rent$2,870

Est. payment standard (110%)Used$2,530

-Principal and interest-$1,588

Loan amount$251,232

Down payment$62,808

Rate6.50%

Term30 years

-Operating costs-$742

Property taxes-$314

Insurance-$175

Utilities$0

HOA$0

Management-$253

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$40,348(64.2% ROI)

Projected value

$338,187

Return breakdown

Property appreciation+$24,147

Loan principal paid down+$9,001

Rental cash flow+$7,200

5-year hold

+$69,319(110.4% ROI)

Projected value

$355,308

Return breakdown

Property appreciation+$41,267

Loan principal paid down+$16,051

Rental cash flow+$12,000

10-year hold

+$150,205(239.1% ROI)

Projected value

$401,998

Return breakdown

Property appreciation+$87,958

Loan principal paid down+$38,247

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

0.61ratio

FMR$1,690

Market$2,770

vs market-$1,080

FMR is below market; voucher rent may lag private rents.

0.61

1 BR

0.76ratio

FMR$1,910

Market$2,510

vs market-$600

FMR is below market; voucher rent may lag private rents.

0.76

2 BR

0.80ratio

FMR$2,300

Market$2,870

vs market-$570

FMR is below market; voucher rent may lag private rents.

0.80

3 BR

0.78ratio

FMR$2,870

Market$3,670

vs market-$800

FMR is below market; voucher rent may lag private rents.

0.78

4 BR

0.82ratio

FMR$3,280

Market$3,990

vs market-$710

FMR is below market; voucher rent may lag private rents.

0.82

0.700.800.901.001.101.201.30aligned range

Historical

FY 2023-2027

FMR: FY2027
Market rent: last ~365 days
Property value: --
Tax rate: --
Mortgage rate: --

ZIP 07207 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 07207 (Elizabeth, NJ) is $2,300 a month. That is up 2.7% from $2,240 in FY 2026. Elizabeth 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, 07207 is tied for the 25th-highest two-bedroom rent (county range $1,990–$3,350). The median county two-bedroom FMR in New Jersey is $2,233, so ZIP 07207 is 3% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 07207
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,640	$1,690	+3.0%	$1,521–$1,859
1BR	$1,850	$1,910	+3.2%	$1,719–$2,101
2BR	$2,240	$2,300	+2.7%	$2,070–$2,530
3BR	$2,810	$2,870	+2.1%	$2,583–$3,157
4BR	$3,190	$3,280	+2.8%	$2,952–$3,608

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 07207
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,690	$1,910	$2,300	$2,870	$3,280
FY 2026	$1,640	$1,850	$2,240	$2,810	$3,190
FY 2025	$1,570	$1,780	$2,160	$2,720	$3,090
FY 2024	$1,380	$1,590	$1,920	$2,430	$2,810
FY 2023	$1,140	$1,350	$1,620	$2,060	$2,410

Two-bedroom rent in nearby Union County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 07207
07092	$2,960	+28.7%
07111	$2,040	−11.3%
07112	$1,990	−13.5%
07114	$1,990	−13.5%
07201	$1,990	−13.5%
07202	$2,180	−5.2%
07203	$2,060	−10.4%
07204	$2,100	−8.7%
07205	$2,290	−0.4%
07206	$2,120	−7.8%
07207Current	$2,300	—
07208	$2,130	−7.4%

Questions about ZIP 07207 rents

How much will Section 8 pay for a two-bedroom in ZIP 07207?

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 $2,300 it would be $2,070 to $2,530. 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 07207 in?

ZIP 07207 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 07207 for FY 2027?

The two-bedroom FMR rose 2.7%, from $2,240 in FY 2026 to $2,300 in FY 2027. Since FY 2023 it has risen 42.0%.

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 rent Elizabeth, NJ fair market rent NJ statewide rents What is SAFMR?Data sources