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 | $1,860 |
| 1 Bedroom | $2,080 |
| 2 Bedrooms | $2,390 |
| 3 Bedrooms | $2,900 |
| 4 Bedrooms | $3,660 |
| 5 Bedrooms | $4,246 |
| 6 Bedrooms | $4,756 |
| 7 Bedrooms | $5,136 |
| 8 Bedrooms | $5,393 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,080 | $303,262 | 0.69% | D |
| 2BR | $2,390 | $477,626 | 0.5% | F |
| 3BR | $2,900 | $770,895 | 0.38% | F |
| 4BR | $3,660 | $891,280 | 0.41% | F |
U.S. Census Bureau data (2024)
In Rutherford, NJ (ZIP 07070), the real estate market presents a unique set of conditions that landlords and small-portfolio investors should consider. The median home value stands at $738,676, indicating a robust residential market where property values have remained stable. Only 0.1% of listings have been reduced, suggesting strong seller pricing power. This low reduction rate signals that most homes are selling close to their asking price, or at least without significant markdowns.
The median days on market (DOM) being listed as N/A suggests that homes are selling very quickly, often before a comprehensive DOM figure can be calculated. This rapid sale pace further underscores the high demand and competitive nature of the housing market in Rutherford.
On the rental side, the Federal Market Rent (FMR) for ZIP 07070 in fiscal year 2024 is projected at $1,910, while the Zillow Observed Rent Index (ZORI) currently sits at $2,486. This discrepancy highlights an above-average rental market, where rents are significantly higher than the government's benchmark. For landlords, this means there is potential to maintain or even slightly increase rents without losing tenants, given the current demand.
Long-term investors should note that the setup in Rutherford implies a market where appreciation is likely to continue, albeit at a modest pace. The stable home values combined with a rapidly selling market suggest that properties will retain their value well into the future. However, the appreciation thesis is contingent upon broader economic factors such as employment rates and interest rates, which could influence both homebuying and renting behaviors.
To summarize, the data points to a resilient market in Rutherford where both homeowners and landlords can expect to maintain their pricing power. The gap between FMR and ZORI provides insight into the local rental market's strength, while the quick sales and minimal listing reductions point to a favorable environment for property owners. For those looking to hold onto properties for the long term, the setup supports a thesis of continued, if conservative, appreciation.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.