FMR is below market; voucher rent may lag private rents.
0.84
1 BR
1 BR
0.92ratio
FMR$1,760
Market$1,920
vs market-$160
FMR is near market; voucher and private rents are aligned.
0.92
2 BR
2 BR
0.84ratio
FMR$2,240
Market$2,680
vs market-$440
FMR is below market; voucher rent may lag private rents.
0.84
3 BR
3 BR
0.80ratio
FMR$2,740
Market$3,430
vs market-$690
FMR is below market; voucher rent may lag private rents.
0.80
4 BR
4 BR
0.80ratio
FMR$3,080
Market$3,870
vs market-$790
FMR is below market; voucher rent may lag private rents.
0.80
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
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ZIP 08543 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 08543 (Princeton, NJ) is $2,240 a month. That is up 14.9% from $1,950 in FY 2026. Princeton is in the Trenton-Princeton, NJ MSA. 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 $2,242. Among 36 ZIP codes in Mercer County, 08543 is tied for the 19th-highest two-bedroom rent (county range $1,760–$3,360).
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 08543
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,340
$1,560
+16.4%
$1,404–$1,716
1BR
$1,550
$1,760
+13.5%
$1,584–$1,936
2BR
$1,950
$2,240
+14.9%
$2,016–$2,464
3BR
$2,340
$2,740
+17.1%
$2,466–$3,014
4BR
$2,670
$3,080
+15.4%
$2,772–$3,388
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 08543
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,560
$1,760
$2,240
$2,740
$3,080
FY 2026
$1,340
$1,550
$1,950
$2,340
$2,670
FY 2025
$1,390
$1,610
$2,030
$2,450
$2,750
FY 2024
$1,360
$1,550
$2,000
$2,420
$2,660
FY 2023
$1,160
$1,320
$1,730
$2,110
$2,320
Two-bedroom rent in nearby Mercer County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 08543?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $2,242, which applies unless the housing authority uses Small Area FMRs, that basic range is $2,018 to $2,466 a month; under the ZIP-level Small Area FMR of $2,240 it would be $2,016 to $2,464. 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 08543 in?
ZIP 08543 is in the Trenton-Princeton, NJ MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $2,242.
How much did fair market rent change in ZIP 08543 for FY 2027?
The two-bedroom FMR rose 14.9%, from $1,950 in FY 2026 to $2,240 in FY 2027. Since FY 2023 it has risen 29.5%.
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