Section 8 Fair Market Rent (FMR) for ZIP 07071 - 2027

Location: Bergen-Passaic, NJ | Metro: Bergen-Passaic, NJ HUD Metro FMR Area

Investment Score for ZIP 07071

Monthly Rent (2BR)

$2,280

Median Price (2BR)

$574,616

1% Rule

0.4%

Annual Yield

4.76%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,770
1 Bedroom	$1,990
2 Bedrooms	$2,280
3 Bedrooms	$2,770
4 Bedrooms	$3,490
5 Bedrooms	$4,048
6 Bedrooms	$4,534
7 Bedrooms	$4,897
8 Bedrooms	$5,142

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$2,280	$574,616	0.4%	F
3BR	$2,770	$652,040	0.42%	F
4BR	$3,490	$736,357	0.47%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

22,463

Median Household Income

$111,711

Housing Units

9,704

Renter Percentage

40.4%

Occupancy Rate

94.9%

Renter Occupied

3,718

When considering whether to invest in ZIP 07071 (Lyndhurst, NJ) for Section 8 properties, follow this decision tree:

1) Does FMR $1910 (zip FY 2024) clear debt service on a $641,686 property?

No. The Fair Market Rent (FMR) of $1910 per month would not be sufficient to cover the debt service on a property valued at $641,686. Debt service typically includes mortgage payments, taxes, insurance, and maintenance costs, which for a property of that value would likely exceed $1910 monthly.

2) Is market rent $2,540 (ZORI) above, at, or below FMR?

Above. The Zillow Observed Rental Index (ZORI) indicates a market rent of $2,540, which is significantly higher than the FMR of $1910. This suggests that the market rents are well above what the government will reimburse under the Section 8 program.

3) Are 40.4% renters + N/A-day DOM enough demand?

It depends. With 40.4% of the population being renters, there is a notable rental market presence. However, the Days on Market (DOM) being listed as N/A means there's insufficient data to assess how quickly rental units are typically filled. To make an informed decision, you must investigate further into the local rental market dynamics, including vacancy rates and competition levels.

If the FMR does not cover debt service, investing solely for Section 8 tenants is not advisable. The high market rent compared to FMR indicates that non-Section 8 tenants could potentially pay more, but the viability of targeting Section 8 tenants specifically hinges on the ability to fill vacancies efficiently. In Lyndhurst, NJ, the rental market share is substantial, but without knowing the DOM, the answer remains uncertain. Therefore, additional research is required to understand the rental market's responsiveness and stability.

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.