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Passaic County/Paterson/07522

07522

ZIPSAFMR
Passaic County, NJ
Zillow

ZIP Investment Score

51Below average

095130300
BRFMR
Eff. Rent
0 BR$1,550$1,710
1 BR$1,740$1,660
2 BR$2,000$2,100
3 BR$2,430$2,420
4 BR$3,060$2,600
5 BR$3,519Not available
6 BR$4,047Not available
7 BR$4,654Not available
8 BR$5,352Not available

Purchase Price Calculator

Maximum purchase price
$250,143

Cost breakdown

+Likely effective rent$2,100
HUD FMR$2,000
Market rent$2,150
Est. payment standard (105%)Used$2,100
-Principal and interest-$1,265
Loan amount$200,114
Down payment$50,029
Rate6.50%
Term30 years
-Operating costs-$635
Property taxes-$250
Insurance-$175
Utilities$0
HOA$0
Management-$210
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$33,603(67.2% ROI)
Projected value
$269,376
Return breakdown
Property appreciation+$19,234
Loan principal paid down+$7,170
Rental cash flow+$7,200
5-year hold
+$57,656(115.2% ROI)
Projected value
$283,013
Return breakdown
Property appreciation+$32,871
Loan principal paid down+$12,785
Rental cash flow+$12,000
10-year hold
+$124,526(248.9% ROI)
Projected value
$320,204
Return breakdown
Property appreciation+$70,061
Loan principal paid down+$30,465
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.84
1 BR
1.05
2 BR
0.93
3 BR
1.00
4 BR
1.18
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 07522 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 07522 (Paterson, NJ) is $2,000 a month. That is up 1.5% from $1,970 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. Among 43 ZIP codes in Passaic County, 07522 has the 35th-highest two-bedroom rent (county range $1,610–$3,190). The median county two-bedroom FMR in New Jersey is $2,233, so ZIP 07522 is 10% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 07522
BedroomsFY 2027Change90–110% range
Studio$1,550+2.6%$1,395–$1,705
1BR$1,740+1.2%$1,566–$1,914
2BR$2,000+1.5%$1,800–$2,200
3BR$2,430+1.3%$2,187–$2,673
4BR$3,060−0.3%$2,754–$3,366

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 07522
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,550$1,740$2,000$2,430$3,060
FY 2026$1,510$1,720$1,970$2,400$3,070
FY 2025$1,270$1,470$1,690$2,080$2,630
FY 2024$1,180$1,380$1,590$1,970$2,480
FY 2023$1,130$1,350$1,570$1,950$2,450

Two-bedroom rent in nearby Passaic County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 07522
07505$1,610−19.5%
07506$2,310+15.5%
07507$2,080+4.0%
07508$2,240+12.0%
07509$2,080+4.0%
07511$2,080+4.0%
07512$2,310+15.5%
07513$2,100+5.0%
07514$1,950−2.5%
07522Current$2,000—
07524$1,880−6.0%
07538$2,080+4.0%

Questions about ZIP 07522 rents

How much will Section 8 pay for a two-bedroom in ZIP 07522?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,000, that basic range is $1,800 to $2,200 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 07522 in?

ZIP 07522 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 07522 for FY 2027?

The two-bedroom FMR rose 1.5%, from $1,970 in FY 2026 to $2,000 in FY 2027. Since FY 2023 it has risen 27.4%.

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