Section 8 Fair Market Rent (FMR) for ZIP 07094 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Housing Authorities Serving ZIP 07094

• Housing Authority City of Jersey City (Jersey City, NJ) - 5,341 Section 8 vouchers
• West New York Housing Authority (West New York, NJ) - 1,183 Section 8 vouchers
• Union City Housing Authority (Union City, NJ) - 703 Section 8 vouchers
• North Bergen Housing Authority (North Bergen, NJ) - 553 Section 8 vouchers
• Hoboken Housing Authority (Hoboken, NJ) - 548 Section 8 vouchers
• Secaucus Housing Authority (Secaucus, NJ) - 529 Section 8 vouchers
• Weehawken Housing Authority (Weehawken, NJ) - 453 Section 8 vouchers
• Bayonne Housing Authority (Bayonne, NJ) - 308 Section 8 vouchers
• Guttenberg Housing Authority (Guttenberg, NJ) - 202 Section 8 vouchers
• Harrison Housing Authority (Harrison, NJ)

Secaucus, NJ, located in ZIP code 07094, is a vibrant suburban community situated in Hudson County, just across the Hudson River from New York City. Its proximity to NYC makes it an attractive location for those seeking affordable housing options outside the city while still enjoying easy access to urban amenities.

• The Fair Market Rent (FMR) for a two-bedroom apartment in Secaucus for fiscal year 2024 is set at $3000, indicating the government's benchmark for affordability.
• The market rent, as measured by Zillow's ZORI index, stands at $2,714 for a typical rental unit, suggesting that the actual rental prices are slightly below the FMR, which could be advantageous for landlords aiming to attract tenants.
• The median home value in Secaucus is $660,107, reflecting a robust real estate market where property values have been steadily increasing.
• Renters make up 49.4% of the housing market in Secaucus, nearly half of all residents, which underscores the strong demand for rental properties in the area.
• The median household income in Secaucus is $139,821, a figure that suggests a relatively affluent population with the potential to support higher rental rates.

The combination of a high median income and a significant renter share points to a healthy rental market in Secaucus. Landlords and small-portfolio investors can leverage the slight gap between the ZORI and FMR to set competitive rental prices, ensuring steady occupancy and returns. The increasing median home value also indicates potential appreciation for rental properties over time, making Secaucus a promising investment destination for those looking to capitalize on its growing desirability.

Data Sources: FMR data from HUD (2027). 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.