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Monmouth County/Red Bank/07701

07701

ZIPSAFMR
Monmouth County, NJ
Zillow

ZIP Investment Score

48Below average

095130300
BRFMR
Eff. Rent
0 BR$1,920$2,050
1 BR$2,120$2,330
2 BR$2,620$2,880
3 BR$3,360$3,700
4 BR$3,720$4,090
5 BR$4,278Not available
6 BR$4,920Not available
7 BR$5,658Not available
8 BR$6,506Not available

Purchase Price Calculator

Maximum purchase price
$366,050

Cost breakdown

+Likely effective rent$2,880
HUD FMR$2,620
Market rent$3,840
Est. payment standard (110%)Used$2,880
-Principal and interest-$1,851
Loan amount$292,840
Down payment$73,210
Rate6.50%
Term30 years
-Operating costs-$829
Property taxes-$366
Insurance-$175
Utilities$0
HOA$0
Management-$288
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$45,838(62.6% ROI)
Projected value
$394,196
Return breakdown
Property appreciation+$28,146
Loan principal paid down+$10,492
Rental cash flow+$7,200
5-year hold
+$78,812(107.7% ROI)
Projected value
$414,152
Return breakdown
Property appreciation+$48,102
Loan principal paid down+$18,710
Rental cash flow+$12,000
10-year hold
+$171,107(233.7% ROI)
Projected value
$468,575
Return breakdown
Property appreciation+$102,525
Loan principal paid down+$44,582
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.91
1 BR
0.78
2 BR
0.68
3 BR
0.74
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 07701 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 07701 (Red Bank, NJ) is $2,620 a month. That is down 1.5% from $2,660 in FY 2026. Red Bank is in the Monmouth-Ocean, NJ HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 60 ZIP codes in Monmouth County, 07701 has the 17th-highest two-bedroom rent (county range $1,200–$3,420). The median county two-bedroom FMR in New Jersey is $2,233, so ZIP 07701 is 17% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 07701
BedroomsFY 2027Change90–110% range
Studio$1,9200.0%$1,728–$2,112
1BR$2,120−1.9%$1,908–$2,332
2BR$2,620−1.5%$2,358–$2,882
3BR$3,360−3.4%$3,024–$3,696
4BR$3,720−3.4%$3,348–$4,092

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 07701
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,920$2,120$2,620$3,360$3,720
FY 2026$1,920$2,160$2,660$3,480$3,850
FY 2025$1,700$1,910$2,360$3,140$3,500
FY 2024$1,580$1,770$2,190$2,980$3,320
FY 2023$1,290$1,440$1,800$2,460$2,740

Two-bedroom rent in nearby Monmouth County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 07701
07701Current$2,620—
07702$3,420+30.5%
07704$3,420+30.5%
07710$2,330−11.1%
07711$2,430−7.3%
07712$2,310−11.8%
07716$2,540−3.1%
07717$2,380−9.2%
07718$2,090−20.2%
07719$2,260−13.7%
07720$2,220−15.3%
07721$2,480−5.3%

Questions about ZIP 07701 rents

How much will Section 8 pay for a two-bedroom in ZIP 07701?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,620, that basic range is $2,358 to $2,882 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 07701 in?

ZIP 07701 is in the Monmouth-Ocean, 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 07701 for FY 2027?

The two-bedroom FMR fell 1.5%, from $2,660 in FY 2026 to $2,620 in FY 2027. Since FY 2023 it has risen 45.6%.

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