FMR is below market; voucher rent may lag private rents.
0.83
1 BR
1 BR
0.98ratio
FMR$2,200
Market$2,240
vs market-$40
FMR is near market; voucher and private rents are aligned.
0.98
2 BR
2 BR
0.92ratio
FMR$2,750
Market$2,980
vs market-$230
FMR is near market; voucher and private rents are aligned.
0.92
3 BR
3 BR
0.97ratio
FMR$3,280
Market$3,370
vs market-$90
FMR is near market; voucher and private rents are aligned.
0.97
4 BR
4 BR
0.88ratio
FMR$3,680
Market$4,200
vs market-$520
FMR is below market; voucher rent may lag private rents.
0.88
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 08875 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 08875 (Somerset, NJ) is $2,750 a month. That is up 6.2% from $2,590 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, 08875 is tied for the 21st-highest two-bedroom rent (county range $2,290–$3,400). The median county two-bedroom FMR in New Jersey is $2,233, so ZIP 08875 is 23% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 08875
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,880
$2,050
+9.0%
$1,845–$2,255
1BR
$2,060
$2,200
+6.8%
$1,980–$2,420
2BR
$2,590
$2,750
+6.2%
$2,475–$3,025
3BR
$3,110
$3,280
+5.5%
$2,952–$3,608
4BR
$3,430
$3,680
+7.3%
$3,312–$4,048
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 08875
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$2,050
$2,200
$2,750
$3,280
$3,680
FY 2026
$1,880
$2,060
$2,590
$3,110
$3,430
FY 2025
$1,610
$1,810
$2,280
$2,750
$3,020
FY 2024
$1,700
$1,910
$2,410
$2,920
$3,210
FY 2023
$1,420
$1,610
$2,040
$2,480
$2,740
Two-bedroom rent in nearby Somerset County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 08875?
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 $2,750 it would be $2,475 to $3,025. 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 08875 in?
ZIP 08875 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 08875 for FY 2027?
The two-bedroom FMR rose 6.2%, from $2,590 in FY 2026 to $2,750 in FY 2027. Since FY 2023 it has risen 34.8%.
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 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