FMR is below market; voucher rent may lag private rents.
0.88
1 BR
1 BR
0.85ratio
FMR$1,470
Market$1,720
vs market-$250
FMR is below market; voucher rent may lag private rents.
0.85
2 BR
2 BR
0.80ratio
FMR$1,830
Market$2,280
vs market-$450
FMR is below market; voucher rent may lag private rents.
0.80
3 BR
3 BR
0.94ratio
FMR$2,240
Market$2,390
vs market-$150
FMR is near market; voucher and private rents are aligned.
0.94
4 BR
4 BR
1.05ratio
FMR$2,660
Market$2,530
vs market+$130
FMR is near market; voucher and private rents are aligned.
1.05
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 07844 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 07844 (Hope, NJ) is $1,830 a month. That is up 10.2% from $1,660 in FY 2026. Hope is in the Warren County, NJ HUD Metro FMR Area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $2,021. Among 23 ZIP codes in Warren County, 07844 has the 22nd-highest two-bedroom rent (county range $1,710–$2,780). The median county two-bedroom FMR in New Jersey is $2,233, so ZIP 07844 is 18% below it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 07844
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,330
$1,460
+9.8%
$1,314–$1,606
1BR
$1,340
$1,470
+9.7%
$1,323–$1,617
2BR
$1,660
$1,830
+10.2%
$1,647–$2,013
3BR
$2,110
$2,240
+6.2%
$2,016–$2,464
4BR
$2,450
$2,660
+8.6%
$2,394–$2,926
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 07844
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,460
$1,470
$1,830
$2,240
$2,660
FY 2026
$1,330
$1,340
$1,660
$2,110
$2,450
FY 2025
$1,200
$1,210
$1,460
$1,870
$2,180
FY 2024
$1,170
$1,280
$1,540
$1,950
$2,280
FY 2023
$1,150
$1,270
$1,530
$1,900
$2,190
Two-bedroom rent in nearby Warren County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 07844?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $2,021, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,819 to $2,223 a month; under the ZIP-level Small Area FMR of $1,830 it would be $1,647 to $2,013. 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 07844 in?
ZIP 07844 is in the Warren County, NJ HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $2,021.
How much did fair market rent change in ZIP 07844 for FY 2027?
The two-bedroom FMR rose 10.2%, from $1,660 in FY 2026 to $1,830 in FY 2027. Since FY 2023 it has risen 19.6%.
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