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 | $1,910 |
| 1 Bedroom | $2,140 |
| 2 Bedrooms | $2,460 |
| 3 Bedrooms | $2,990 |
| 4 Bedrooms | $3,770 |
| 5 Bedrooms | $4,373 |
| 6 Bedrooms | $4,898 |
| 7 Bedrooms | $5,290 |
| 8 Bedrooms | $5,555 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,460 | $544,869 | 0.45% | F |
| 3BR | $2,990 | $711,470 | 0.42% | F |
| 4BR | $3,770 | $803,133 | 0.47% | F |
| 5BR | $4,373 | $1,013,645 | 0.43% | F |
U.S. Census Bureau data (2024)
ZIP code 07410, located in Fair Lawn, NJ, falls within the Bergen-Passaic, NJ HUD Metro FMR Area. Its Fair Market Rent (FMR) for fiscal year 2024 is set at $2260, while the market rent stands at $3,374. The median home value in 07410 is $709,806, and 21.9% of residents are renters.
To understand how 07410 compares to other ZIP codes in the same metro area, we must consider these figures in context. A ZIP code's FMR is a benchmark used by the U.S. Department of Housing and Urban Development (HUD) to determine payment standards for housing assistance programs. An FMR of $2260 suggests that the cost of housing in 07410 is relatively affordable compared to the broader market rent of $3,374. This indicates that there is a significant gap between subsidized rents and what the market demands, potentially making 07410 an attractive location for tenants seeking rental assistance.
The renter share of 21.9% is notably higher than the average for the Bergen-Passaic, NJ HUD Metro FMR Area. Typically, ZIP codes with a higher percentage of renters may indicate a greater demand for rental properties, which can be beneficial for landlords. However, it also means that there is a substantial portion of the population relying on rental housing, including those who might benefit from Section 8 vouchers.
With a median home value of $709,806, 07410 is positioned as a mid-tier neighborhood within the metro area. This figure is indicative of a stable, middle-class community where homeownership is still accessible but not without a considerable investment. The divergence between the high renter share and the median home value suggests that 07410 could be considered a value pocket for investors looking to capitalize on the rental market.
In summary, ZIP code 07410 is a mid-tier neighborhood within the Bergen-Passaic, NJ HUD Metro FMR Area. It offers a mix of affordability in terms of FMR and market rent, a higher-than-average renter share, and a median home value that reflects a stable middle-class community. These factors combined make it a promising location for landlords and small-portfolio investors, particularly those interested in the rental assistance market.
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.