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Monmouth County/Eatontown/07724

07724

ZIPSAFMR
Monmouth County, NJ
Zillow

ZIP Investment Score

39Below average

095130300
BRFMR
Eff. Rent
0 BR$1,540$1,690
1 BR$1,700$1,870
2 BR$2,100$2,310
3 BR$2,690$2,960
4 BR$2,980$3,280
5 BR$3,427Not available
6 BR$3,941Not available
7 BR$4,532Not available
8 BR$5,212Not available

Purchase Price Calculator

Maximum purchase price
$281,349

Cost breakdown

+Likely effective rent$2,310
HUD FMR$2,100
Market rent$3,490
Est. payment standard (110%)Used$2,310
-Principal and interest-$1,423
Loan amount$225,079
Down payment$56,270
Rate6.50%
Term30 years
-Operating costs-$687
Property taxes-$281
Insurance-$175
Utilities$0
HOA$0
Management-$231
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$36,897(65.6% ROI)
Projected value
$302,982
Return breakdown
Property appreciation+$21,633
Loan principal paid down+$8,064
Rental cash flow+$7,200
5-year hold
+$63,352(112.6% ROI)
Projected value
$318,320
Return breakdown
Property appreciation+$36,972
Loan principal paid down+$14,380
Rental cash flow+$12,000
10-year hold
+$137,067(243.6% ROI)
Projected value
$360,150
Return breakdown
Property appreciation+$78,801
Loan principal paid down+$34,266
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.67
1 BR
0.74
2 BR
0.60
3 BR
0.64
4 BR
0.60
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 07724 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 07724 (Eatontown, NJ) is $2,100 a month. That is down 1.4% from $2,130 in FY 2026. Eatontown 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, 07724 has the 50th-highest two-bedroom rent (county range $1,200–$3,420). The median county two-bedroom FMR in New Jersey is $2,233, so ZIP 07724 is 6% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 07724
BedroomsFY 2027Change90–110% range
Studio$1,540+0.7%$1,386–$1,694
1BR$1,700−1.7%$1,530–$1,870
2BR$2,100−1.4%$1,890–$2,310
3BR$2,690−3.2%$2,421–$2,959
4BR$2,980−3.2%$2,682–$3,278

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 07724
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,540$1,700$2,100$2,690$2,980
FY 2026$1,530$1,730$2,130$2,780$3,080
FY 2025$1,340$1,500$1,850$2,460$2,740
FY 2024$1,250$1,400$1,730$2,350$2,620
FY 2023$1,020$1,130$1,420$1,940$2,160

Two-bedroom rent in nearby Monmouth County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 07724
07717$2,380+13.3%
07718$2,090−0.5%
07719$2,260+7.6%
07720$2,220+5.7%
07721$2,480+18.1%
07722$3,420+62.9%
07723$2,070−1.4%
07724Current$2,100—
07726$2,470+17.6%
07727$2,180+3.8%
07728$2,430+15.7%
07730$2,560+21.9%

Questions about ZIP 07724 rents

How much will Section 8 pay for a two-bedroom in ZIP 07724?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,100, that basic range is $1,890 to $2,310 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 07724 in?

ZIP 07724 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 07724 for FY 2027?

The two-bedroom FMR fell 1.4%, from $2,130 in FY 2026 to $2,100 in FY 2027. Since FY 2023 it has risen 47.9%.

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