FMR is below market; voucher rent may lag private rents.
0.46
1 BR
1 BR
0.88ratio
FMR$2,110
Market$2,410
vs market-$300
FMR is below market; voucher rent may lag private rents.
0.88
2 BR
2 BR
0.58ratio
FMR$2,420
Market$4,190
vs market-$1,770
FMR is below market; voucher rent may lag private rents.
0.58
3 BR
3 BR
0.66ratio
FMR$2,940
Market$4,430
vs market-$1,490
FMR is below market; voucher rent may lag private rents.
0.66
4 BR
4 BR
0.70ratio
FMR$3,710
Market$5,280
vs market-$1,570
FMR is below market; voucher rent may lag private rents.
0.70
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
--
ZIP 07653 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 07653 (Paramus, NJ) is $2,420 a month. That is down 2.4% from $2,480 in FY 2026. Paramus 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, 07653 is tied for the 44th-highest two-bedroom rent (county range $1,440–$3,420). The median county two-bedroom FMR in New Jersey is $2,233, so ZIP 07653 is 8% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 07653
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,900
$1,880
−1.1%
$1,692–$2,068
1BR
$2,160
$2,110
−2.3%
$1,899–$2,321
2BR
$2,480
$2,420
−2.4%
$2,178–$2,662
3BR
$3,020
$2,940
−2.6%
$2,646–$3,234
4BR
$3,860
$3,710
−3.9%
$3,339–$4,081
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 07653
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,880
$2,110
$2,420
$2,940
$3,710
FY 2026
$1,900
$2,160
$2,480
$3,020
$3,860
FY 2025
$1,670
$1,940
$2,230
$2,740
$3,470
FY 2024
$1,510
$1,770
$2,040
$2,530
$3,180
FY 2023
$1,410
$1,690
$1,960
$2,430
$3,060
Two-bedroom rent in nearby Bergen County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 07653?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,420, that basic range is $2,178 to $2,662 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 07653 in?
ZIP 07653 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 07653 for FY 2027?
The two-bedroom FMR fell 2.4%, from $2,480 in FY 2026 to $2,420 in FY 2027. Since FY 2023 it has risen 23.5%.
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