FMR is below market; voucher rent may lag private rents.
0.80
1 BR
1 BR
1.00ratio
FMR$2,103
Market$2,100
vs market+$3
FMR is near market; voucher and private rents are aligned.
1.00
2 BR
2 BR
1.11ratio
FMR$2,623
Market$2,360
vs market+$263
FMR is above market; underwrite to market rent.
1.11
3 BR
3 BR
1.19ratio
FMR$3,125
Market$2,620
vs market+$505
FMR is above market; underwrite to market rent.
1.19
4 BR
4 BR
1.29ratio
FMR$3,508
Market$2,710
vs market+$798
FMR is above market; underwrite to market rent.
1.29
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 08803 fair market rent, FY 2027
For FY 2027, HUD's Fair Market Rent for a two-bedroom unit in ZIP 08803 (Baptistown, NJ) is $2,623 a month. That is up 5.5% from $2,486 in FY 2026. Baptistown is in the Middlesex-Somerset-Hunterdon, NJ HUD Metro FMR Area. The median county two-bedroom FMR in New Jersey is $2,233, so ZIP 08803 is 17% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 08803
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,804
$1,953
+8.3%
$1,758–$2,148
1BR
$1,978
$2,103
+6.3%
$1,893–$2,313
2BR
$2,486
$2,623
+5.5%
$2,361–$2,885
3BR
$2,981
$3,125
+4.8%
$2,813–$3,438
4BR
$3,296
$3,508
+6.4%
$3,157–$3,859
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 08803
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,953
$2,103
$2,623
$3,125
$3,508
FY 2026
$1,804
$1,978
$2,486
$2,981
$3,296
FY 2025
$1,540
$1,731
$2,176
$2,622
$2,885
FY 2024
$1,608
$1,807
$2,276
$2,756
$3,031
FY 2023
$1,336
$1,515
$1,917
$2,333
$2,575
Questions about ZIP 08803 rents
How much will Section 8 pay for a two-bedroom in ZIP 08803?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,623, that basic range is $2,361 to $2,885 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 08803 in?
ZIP 08803 is in the Middlesex-Somerset-Hunterdon, NJ HUD Metro FMR Area. Small Area FMRs are not mandatory in this area.
How much did fair market rent change in ZIP 08803 for FY 2027?
The two-bedroom FMR rose 5.5%, from $2,486 in FY 2026 to $2,623 in FY 2027. Since FY 2023 it has risen 36.8%.
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 Fair Market Rents. 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