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Sussex County/Hewitt/07421

07421

ZIPSAFMR
Sussex County, NJ
Zillow

ZIP Investment Score

66Below average

095130300
BRFMR
Eff. Rent
0 BR$2,190$2,340
1 BR$2,460$2,260
2 BR$2,820$2,520
3 BR$3,430$3,530
4 BR$4,320$3,930
5 BR$4,968Not available
6 BR$5,713Not available
7 BR$6,570Not available
8 BR$7,556Not available

Purchase Price Calculator

Maximum purchase price
$312,554

Cost breakdown

+Likely effective rent$2,520
HUD FMR$2,820
Market rentUsed$2,520
Est. payment standard (93%)$2,630
-Principal and interest-$1,580
Loan amount$250,044
Down payment$62,511
Rate6.50%
Term30 years
-Operating costs-$740
Property taxes-$313
Insurance-$175
Utilities$0
HOA$0
Management-$252
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$40,191(64.3% ROI)
Projected value
$336,587
Return breakdown
Property appreciation+$24,033
Loan principal paid down+$8,958
Rental cash flow+$7,200
5-year hold
+$69,048(110.5% ROI)
Projected value
$353,627
Return breakdown
Property appreciation+$41,072
Loan principal paid down+$15,975
Rental cash flow+$12,000
10-year hold
+$149,608(239.3% ROI)
Projected value
$400,096
Return breakdown
Property appreciation+$87,542
Loan principal paid down+$38,066
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.90
1 BR
1.09
2 BR
1.12
3 BR
0.96
4 BR
1.10
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 07421 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 07421 (Hewitt, NJ) is $2,820 a month. That is down 6.6% from $3,020 in FY 2026. Hewitt is in the Newark, NJ HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 29 ZIP codes in Sussex County, 07421 has the 2nd-highest two-bedroom rent (county range $1,990–$2,900). The median county two-bedroom FMR in New Jersey is $2,233, so ZIP 07421 is 26% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 07421
BedroomsFY 2027Change90–110% range
Studio$2,190−5.2%$1,971–$2,409
1BR$2,460−6.5%$2,214–$2,706
2BR$2,820−6.6%$2,538–$3,102
3BR$3,430−7.0%$3,087–$3,773
4BR$4,320−8.1%$3,888–$4,752

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 07421
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,190$2,460$2,820$3,430$4,320
FY 2026$2,310$2,630$3,020$3,690$4,700
FY 2025$2,120$2,460$2,830$3,490$4,380
FY 2024$1,880$2,210$2,550$3,160$3,950
FY 2023$1,700$2,030$2,360$2,940$3,670

Two-bedroom rent in nearby Sussex County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 07421
07416$1,990−29.4%
07418$2,060−27.0%
07419$2,340−17.0%
07421Current$2,820—
07422$2,350−16.7%
07428$2,100−25.5%
07439$2,000−29.1%
07460$2,900+2.8%
07461$1,990−29.4%
07462$2,160−23.4%
07821$2,200−22.0%
07822$2,140−24.1%

Questions about ZIP 07421 rents

How much will Section 8 pay for a two-bedroom in ZIP 07421?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,820, that basic range is $2,538 to $3,102 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 07421 in?

ZIP 07421 is in the Newark, 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 07421 for FY 2027?

The two-bedroom FMR fell 6.6%, from $3,020 in FY 2026 to $2,820 in FY 2027. Since FY 2023 it has risen 19.5%.

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