FMR is near market; voucher and private rents are aligned.
1.05
3 BR
3 BR
1.10ratio
FMR$3,392
Market$3,080
vs market+$312
FMR is above market; underwrite to market rent.
1.10
4 BR
4 BR
1.13ratio
FMR$3,976
Market$3,510
vs market+$466
FMR is above market; underwrite to market rent.
1.13
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
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ZIP 07399 fair market rent, FY 2027
For FY 2027, HUD's Fair Market Rent for a two-bedroom unit in ZIP 07399 (Jersey City, NJ) is $2,792 a month. That is up 1.0% from $2,763 in FY 2026. Jersey 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. The median county two-bedroom FMR in New Jersey is $2,233, so ZIP 07399 is 25% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 07399
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$2,407
$2,462
+2.3%
$2,216–$2,708
1BR
$2,458
$2,514
+2.3%
$2,263–$2,765
2BR
$2,763
$2,792
+1.0%
$2,513–$3,071
3BR
$3,367
$3,392
+0.7%
$3,053–$3,731
4BR
$3,955
$3,976
+0.5%
$3,578–$4,374
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 07399
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$2,462
$2,514
$2,792
$3,392
$3,976
FY 2026
$2,407
$2,458
$2,763
$3,367
$3,955
FY 2025
$1,999
$2,029
$2,299
$2,822
$3,218
FY 2024
$1,993
$2,025
$2,299
$2,855
$3,183
FY 2023
$1,765
$1,821
$2,088
$2,578
$2,805
Questions about ZIP 07399 rents
How much will Section 8 pay for a two-bedroom in ZIP 07399?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,792, that basic range is $2,513 to $3,071 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 07399 in?
ZIP 07399 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 07399 for FY 2027?
The two-bedroom FMR rose 1.0%, from $2,763 in FY 2026 to $2,792 in FY 2027. Since FY 2023 it has risen 33.7%.
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 Fair Market Rents. 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