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Warren County/Phillipsburg/08865

08865

ZIPSAFMR
Warren County, NJ
Zillow

ZIP Investment Score

62Below average

095130300
BRFMR
Eff. Rent
0 BR$1,570$1,700
1 BR$1,580$1,660
2 BR$1,960$1,880
3 BR$2,400$2,200
4 BR$2,850$2,600
5 BR$3,277Not available
6 BR$3,769Not available
7 BR$4,334Not available
8 BR$4,985Not available

Purchase Price Calculator

Maximum purchase price
$217,451

Cost breakdown

+Likely effective rent$1,880
HUD FMR$1,960
Market rentUsed$1,880
Est. payment standard (97%)$1,910
-Principal and interest-$1,100
Loan amount$173,961
Down payment$43,490
Rate6.50%
Term30 years
-Operating costs-$580
Property taxes-$217
Insurance-$175
Utilities$0
HOA$0
Management-$188
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$30,153(69.3% ROI)
Projected value
$234,171
Return breakdown
Property appreciation+$16,720
Loan principal paid down+$6,233
Rental cash flow+$7,200
5-year hold
+$51,689(118.9% ROI)
Projected value
$246,026
Return breakdown
Property appreciation+$28,575
Loan principal paid down+$11,114
Rental cash flow+$12,000
10-year hold
+$111,388(256.1% ROI)
Projected value
$278,355
Return breakdown
Property appreciation+$60,905
Loan principal paid down+$26,484
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.89
1 BR
0.92
2 BR
1.04
3 BR
1.09
4 BR
1.10
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 08865 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 08865 (Phillipsburg, NJ) is $1,960 a month. That is up 8.3% from $1,810 in FY 2026. Phillipsburg 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, 08865 has the 21st-highest two-bedroom rent (county range $1,710–$2,780). The median county two-bedroom FMR in New Jersey is $2,233, so ZIP 08865 is 12% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 08865
BedroomsFY 2027Change90–110% range
Studio$1,570+8.3%$1,413–$1,727
1BR$1,580+8.2%$1,422–$1,738
2BR$1,960+8.3%$1,764–$2,156
3BR$2,400+4.3%$2,160–$2,640
4BR$2,850+6.7%$2,565–$3,135

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 08865
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,570$1,580$1,960$2,400$2,850
FY 2026$1,450$1,460$1,810$2,300$2,670
FY 2025$1,340$1,350$1,630$2,090$2,440
FY 2024$1,120$1,220$1,470$1,860$2,170
FY 2023$1,090$1,210$1,460$1,810$2,090

Two-bedroom rent in nearby Warren County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 08865
07860$2,010+2.6%
07863$2,240+14.3%
07865$2,550+30.1%
07874$2,410+23.0%
07880$2,410+23.0%
07882$2,240+14.3%
08802$2,750+40.3%
08804$2,780+41.8%
08827$2,290+16.8%
08848$2,310+17.9%
08865Current$1,960—
08886$2,630+34.2%

Questions about ZIP 08865 rents

How much will Section 8 pay for a two-bedroom in ZIP 08865?

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 $1,960 it would be $1,764 to $2,156. 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 08865 in?

ZIP 08865 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 08865 for FY 2027?

The two-bedroom FMR rose 8.3%, from $1,810 in FY 2026 to $1,960 in FY 2027. Since FY 2023 it has risen 34.2%.

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