Location: Newark, NJ | Metro: Newark, NJ HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,690 |
| 1 Bedroom | $1,910 |
| 2 Bedrooms | $2,300 |
| 3 Bedrooms | $2,870 |
| 4 Bedrooms | $3,280 |
| 5 Bedrooms | $3,805 |
| 6 Bedrooms | $4,262 |
| 7 Bedrooms | $4,603 |
| 8 Bedrooms | $4,833 |
The yield in ZIP 07061 is moderately high, given that the FMR is $1920. This figure represents the average rent price that the U.S. Department of Housing and Urban Development (HUD) deems reasonable for a property in this area. The rental market is robust, indicating that there is a consistent demand for housing. However, specific market rent and home value figures were not available in the provided data.
Regarding stability, the lack of precise data on the percentage of renters, days on market (DOM), and median household income makes it challenging to provide a definitive assessment. Nevertheless, the presence of a defined FMR suggests that the area has a stable rental environment supported by government guidelines. The FMR is designed to reflect the affordability of housing in the region, which can be an indicator of economic stability.
To classify ZIP 07061, we must rely on the FMR data. Given the $1920 FMR, this ZIP code leans towards a steady-cashflow zone rather than a high-yield/low-stability market. High-yield markets often exhibit higher volatility and risk, whereas ZIP 07061 shows characteristics of a reliable rental market with consistent returns.
In conclusion, ZIP 07061 appears to offer a moderate yield with indications of stability due to the established FMR. Investors seeking a balance between solid returns and low-risk environments may find this ZIP code appealing. Further research into local rental trends and income levels would provide a more comprehensive understanding of the market's potential.
Data Sources: FMR data from HUD (2027).
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.