Location: Jersey City, NJ | Metro: Jersey City, NJ HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,460 |
| 1 Bedroom | $2,510 |
| 2 Bedrooms | $2,790 |
| 3 Bedrooms | $3,390 |
| 4 Bedrooms | $3,970 |
| 5 Bedrooms | $4,605 |
| 6 Bedrooms | $5,158 |
| 7 Bedrooms | $5,571 |
| 8 Bedrooms | $5,850 |
The ZIP code 07097 in Jersey City County stands out due to its unique characteristics that distinguish it from other areas. However, specific data points such as the number of residents, percentage of renters, median income, and median home value are currently unavailable, making it challenging to provide a detailed analysis based on these metrics.
Moving onto the voucher economics, the Fair Market Rent (FMR) for ZIP 07097 is set at $2300 for fiscal year 2024. This figure represents the rent standard for Section 8 housing vouchers in the area but lacks direct comparison to the local market rates, which are also marked as N/A. The absence of precise market rate data complicates the assessment of how competitive the FMR is relative to actual rental costs in the area.
Given the incomplete data signature for ZIP 07097, it is difficult to definitively label the area as either stable or transitional. Typically, a stable area would have consistent population trends, steady median incomes, and predictable rental market conditions. Conversely, a transitional area might show fluctuations in these indicators, suggesting changes in the demographic makeup or economic status of the region. Without the necessary data points, a thorough classification remains elusive.
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.