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 | $1,750 |
| 1 Bedroom | $1,960 |
| 2 Bedrooms | $2,250 |
| 3 Bedrooms | $2,730 |
| 4 Bedrooms | $3,450 |
| 5 Bedrooms | $4,002 |
| 6 Bedrooms | $4,482 |
| 7 Bedrooms | $4,841 |
| 8 Bedrooms | $5,083 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,250 | $522,031 | 0.43% | F |
| 3BR | $2,730 | $641,461 | 0.43% | F |
| 4BR | $3,450 | $718,923 | 0.48% | F |
| 5BR | $4,002 | $1,186,356 | 0.34% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 07621, Bergenfield, NJ, reveals a market that leans towards providing steady cash flow rather than being a high-yield/low-stability flip-style market. The Fair Market Rent (FMR) for the fiscal year 2024 is set at $1,860, which is above the current market rent of $1,752. This indicates that there is potential for slightly higher rental yields compared to the broader market, but the gap is not large enough to suggest a highly volatile or speculative environment.
Bergenfield's median home value stands at $628,202, which is considerably higher than the average FMR. This suggests that the area is predominantly occupied by owner-occupied homes, with only 29.4% of the housing stock dedicated to renters. Despite the relatively low percentage of renters, the median household income in the area is robust at $130,045, indicating that tenants can likely afford higher rents without significant risk of default. The lack of data on days on market (DOM) makes it challenging to assess the speed at which properties are rented out, but given the strong income levels, it is reasonable to assume that the market is stable and efficient.
Based on these figures, ZIP 07621 appears to be a solid choice for steady cash flow, particularly for landlords and small-portfolio investors who prioritize reliable returns over speculative gains. The modest premium of FMR over market rent, combined with the high median household income, supports this conclusion. However, the limited rental population might affect the overall demand for rental units, so investors should carefully consider the local supply and demand dynamics before entering the 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.