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Bergen County/Norwood/07648

07648

ZIPSAFMR
Bergen County, NJ
Zillow

ZIP Investment Score

50Below average

095130300
BRFMR
Eff. Rent
0 BR$2,230$2,450
1 BR$2,490$2,650
2 BR$2,860$3,150
3 BR$3,480$3,830
4 BR$4,390$4,830
5 BR$5,049Not available
6 BR$5,806Not available
7 BR$6,677Not available
8 BR$7,678Not available

Purchase Price Calculator

Maximum purchase price
$406,172

Cost breakdown

+Likely effective rent$3,150
HUD FMR$2,860
Market rent$4,130
Est. payment standard (110%)Used$3,150
-Principal and interest-$2,054
Loan amount$324,938
Down payment$81,234
Rate6.50%
Term30 years
-Operating costs-$896
Property taxes-$406
Insurance-$175
Utilities$0
HOA$0
Management-$315
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$50,073(61.6% ROI)
Projected value
$437,403
Return breakdown
Property appreciation+$31,231
Loan principal paid down+$11,642
Rental cash flow+$7,200
5-year hold
+$86,135(106.0% ROI)
Projected value
$459,547
Return breakdown
Property appreciation+$53,374
Loan principal paid down+$20,760
Rental cash flow+$12,000
10-year hold
+$187,231(230.5% ROI)
Projected value
$519,935
Return breakdown
Property appreciation+$113,763
Loan principal paid down+$49,468
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.45
1 BR
0.91
2 BR
0.69
3 BR
0.79
4 BR
0.76
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 07648 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 07648 (Norwood, NJ) is $2,860 a month. That is down 1.7% from $2,910 in FY 2026. Norwood 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 74 ZIP codes in Bergen County, 07648 has the 23rd-highest two-bedroom rent (county range $1,440–$3,420). The median county two-bedroom FMR in New Jersey is $2,233, so ZIP 07648 is 28% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 07648
BedroomsFY 2027Change90–110% range
Studio$2,230+0.5%$2,007–$2,453
1BR$2,490−1.6%$2,241–$2,739
2BR$2,860−1.7%$2,574–$3,146
3BR$3,480−2.0%$3,132–$3,828
4BR$4,390−2.9%$3,951–$4,829

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 07648
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,230$2,490$2,860$3,480$4,390
FY 2026$2,220$2,530$2,910$3,550$4,520
FY 2025$1,930$2,240$2,570$3,160$4,000
FY 2024$1,750$2,060$2,370$2,930$3,690
FY 2023$1,640$1,960$2,280$2,830$3,560

Two-bedroom rent in nearby Bergen County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 07648
07641$2,780−2.8%
07642$2,300−19.6%
07643$2,270−20.6%
07644$2,160−24.5%
07645$2,710−5.2%
07646$2,220−22.4%
07647$2,470−13.6%
07648Current$2,860—
07649$2,750−3.8%
07650$2,530−11.5%
07652$3,420+19.6%
07653$2,420−15.4%

Questions about ZIP 07648 rents

How much will Section 8 pay for a two-bedroom in ZIP 07648?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,860, that basic range is $2,574 to $3,146 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 07648 in?

ZIP 07648 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 07648 for FY 2027?

The two-bedroom FMR fell 1.7%, from $2,910 in FY 2026 to $2,860 in FY 2027. Since FY 2023 it has risen 25.4%.

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