Location: Bergen-Passaic, NJ | Metro: Bergen-Passaic, NJ HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,790 |
| 1 Bedroom | $2,010 |
| 2 Bedrooms | $2,310 |
| 3 Bedrooms | $2,810 |
| 4 Bedrooms | $3,540 |
| 5 Bedrooms | $4,106 |
| 6 Bedrooms | $4,599 |
| 7 Bedrooms | $4,967 |
| 8 Bedrooms | $5,215 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,310 | $549,711 | 0.42% | F |
| 3BR | $2,810 | $659,338 | 0.43% | F |
| 4BR | $3,540 | $738,096 | 0.48% | F |
| 5BR | $4,106 | $842,213 | 0.49% | F |
U.S. Census Bureau data (2024)
ZIP code 07013, located in Clifton, NJ, is situated within the Bergen-Passaic, NJ HUD Metro FMR Area. Its Fair Market Rent (FMR) for FY 2024 is set at $1,850. Comparatively, the average market rent for ZIP codes in the Bergen-Passaic area is around $1,671, indicating that 07013 has a slightly higher FMR than the typical ZIP in its metro area.
The median home value in 07013 stands at $636,662, which aligns closely with the average home values found in the larger Bergen-Passaic region. This suggests that the housing market in 07013 is neither significantly undervalued nor overvalued compared to its surrounding areas.
A notable aspect of 07013 is its renter share, which is 28.6%. This figure is above the national average and suggests a substantial demand for rental properties. However, it's important to note that while the renter share is high, the home values are in line with the metro average, making 07013 a potentially attractive location for landlords seeking a balance between tenant demand and property investment costs.
Given the data, 07013 can be classified as a mid-tier neighborhood within the Bergen-Passaic metro area. It offers rental rates slightly above the average but maintains comparable home values, suggesting it is neither a premium sub-market nor a value pocket. The high renter share could indicate a strong rental market, particularly appealing for those interested in Section 8 housing opportunities.
To further contextualize the position of 07013 within the Bergen-Passaic area, consider the following:
In summary, ZIP 07013 presents a balanced opportunity for landlords and small-portfolio investors within the Bergen-Passaic metro area. While it is not a premium sub-market with exceptionally high rents or home values, its characteristics make it a solid choice for those looking to enter or expand their presence in the local rental market.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.