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Passaic County/Paterson/07510

07510

ZIPFMR
Passaic County, NJ
Zillow
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ZIP Investment Score

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095130300
BRFMR
Eff. Rent
0 BR$1,772$1,950
1 BR$1,987$2,190
2 BR$2,282$2,510
3 BR$2,771$3,050
4 BR$3,497$3,700
5 BR$4,022Not available
6 BR$4,625Not available
7 BR$5,318Not available
8 BR$6,116Not available

Purchase Price Calculator

Maximum purchase price
$311,068

Cost breakdown

+Likely effective rent$2,510
HUD FMR$2,282
Market rent$2,870
Est. payment standard (110%)Used$2,510
-Principal and interest-$1,573
Loan amount$248,855
Down payment$62,214
Rate6.50%
Term30 years
-Operating costs-$737
Property taxes-$311
Insurance-$175
Utilities$0
HOA$0
Management-$251
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$40,034(64.3% ROI)
Projected value
$334,987
Return breakdown
Property appreciation+$23,918
Loan principal paid down+$8,916
Rental cash flow+$7,200
5-year hold
+$68,776(110.5% ROI)
Projected value
$351,945
Return breakdown
Property appreciation+$40,877
Loan principal paid down+$15,899
Rental cash flow+$12,000
10-year hold
+$149,011(239.5% ROI)
Projected value
$398,194
Return breakdown
Property appreciation+$87,125
Loan principal paid down+$37,885
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.64
1 BR
0.86
2 BR
0.80
3 BR
0.83
4 BR
0.92
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
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Tax rate
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Mortgage rate
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ZIP 07510 fair market rent, FY 2027

For FY 2027, HUD's Fair Market Rent for a two-bedroom unit in ZIP 07510 (Paterson, NJ) is $2,282 a month. That is down 1.8% from $2,324 in FY 2026. Paterson is in the Bergen-Passaic, 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 07510 is 2% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 07510
BedroomsFY 2027Change90–110% range
Studio$1,772−0.3%$1,595–$1,949
1BR$1,987−1.8%$1,788–$2,186
2BR$2,282−1.8%$2,054–$2,510
3BR$2,771−2.3%$2,494–$3,048
4BR$3,497−3.3%$3,147–$3,847

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 07510
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,772$1,987$2,282$2,771$3,497
FY 2026$1,778$2,024$2,324$2,835$3,618
FY 2025$1,556$1,807$2,072$2,550$3,225
FY 2024$1,400$1,645$1,892$2,342$2,946
FY 2023$1,321$1,579$1,832$2,275$2,859

Questions about ZIP 07510 rents

How much will Section 8 pay for a two-bedroom in ZIP 07510?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,282, that basic range is $2,054 to $2,510 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 07510 in?

ZIP 07510 is in the Bergen-Passaic, 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 07510 for FY 2027?

The two-bedroom FMR fell 1.8%, from $2,324 in FY 2026 to $2,282 in FY 2027. Since FY 2023 it has risen 24.6%.

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

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