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Somerset County/Somerset/08873

08873

ZIPSAFMR
Somerset County, NJ
Zillow

ZIP Investment Score

64Below average

095130300
BRFMR
Eff. Rent
0 BR$2,110$2,320
1 BR$2,280$1,890
2 BR$2,840$2,910
3 BR$3,380$3,460
4 BR$3,800$3,950
5 BR$4,370Not available
6 BR$5,025Not available
7 BR$5,779Not available
8 BR$6,646Not available

Purchase Price Calculator

Maximum purchase price
$370,508

Cost breakdown

+Likely effective rent$2,910
HUD FMR$2,840
Market rent$2,940
Est. payment standard (102%)Used$2,910
-Principal and interest-$1,873
Loan amount$296,407
Down payment$74,102
Rate6.50%
Term30 years
-Operating costs-$837
Property taxes-$371
Insurance-$175
Utilities$0
HOA$0
Management-$291
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$46,308(62.5% ROI)
Projected value
$398,997
Return breakdown
Property appreciation+$28,489
Loan principal paid down+$10,620
Rental cash flow+$7,200
5-year hold
+$79,625(107.5% ROI)
Projected value
$419,196
Return breakdown
Property appreciation+$48,688
Loan principal paid down+$18,937
Rental cash flow+$12,000
10-year hold
+$172,898(233.3% ROI)
Projected value
$474,282
Return breakdown
Property appreciation+$103,774
Loan principal paid down+$45,125
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.71
1 BR
1.21
2 BR
0.97
3 BR
0.97
4 BR
0.94
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 08873 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 08873 (Somerset, NJ) is $2,840 a month. That is up 6.8% from $2,660 in FY 2026. Somerset is in the Middlesex-Somerset-Hunterdon, 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 $2,623. Among 41 ZIP codes in Somerset County, 08873 has the 19th-highest two-bedroom rent (county range $2,290–$3,400). The median county two-bedroom FMR in New Jersey is $2,233, so ZIP 08873 is 27% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 08873
BedroomsFY 2027Change90–110% range
Studio$2,110+9.3%$1,899–$2,321
1BR$2,280+7.5%$2,052–$2,508
2BR$2,840+6.8%$2,556–$3,124
3BR$3,380+6.0%$3,042–$3,718
4BR$3,800+7.6%$3,420–$4,180

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 08873
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,110$2,280$2,840$3,380$3,800
FY 2026$1,930$2,120$2,660$3,190$3,530
FY 2025$1,610$1,810$2,270$2,740$3,010
FY 2024$1,700$1,900$2,400$2,910$3,200
FY 2023$1,460$1,660$2,100$2,560$2,820

Two-bedroom rent in nearby Somerset County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 08873
08824$2,980+4.9%
08835$2,540−10.6%
08836$2,910+2.5%
08844$3,080+8.5%
08853$2,770−2.5%
08869$2,740−3.5%
08873Current$2,840—
08875$2,750−3.2%
08876$2,530−10.9%
08880$2,460−13.4%
08889$2,850+0.4%
08901$2,550−10.2%

Questions about ZIP 08873 rents

How much will Section 8 pay for a two-bedroom in ZIP 08873?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $2,623, which applies unless the housing authority uses Small Area FMRs, that basic range is $2,361 to $2,885 a month; under the ZIP-level Small Area FMR of $2,840 it would be $2,556 to $3,124. 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 08873 in?

ZIP 08873 is in the Middlesex-Somerset-Hunterdon, NJ HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $2,623.

How much did fair market rent change in ZIP 08873 for FY 2027?

The two-bedroom FMR rose 6.8%, from $2,660 in FY 2026 to $2,840 in FY 2027. Since FY 2023 it has risen 35.2%.

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