Section 8 Fair Market Rent (FMR) for ZIP 07652 - 2027

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

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$2,660
1 Bedroom	$2,980
2 Bedrooms	$3,420
3 Bedrooms	$4,150
4 Bedrooms	$5,240
5 Bedrooms	$6,078
6 Bedrooms	$6,807
7 Bedrooms	$7,352
8 Bedrooms	$7,720

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

26,568

Median Household Income

$144,349

Housing Units

8,813

Renter Percentage

17.4%

Occupancy Rate

96.0%

Renter Occupied

1,472

Housing Authorities Serving ZIP 07652

Housing Authority of Bergen County (Hackensack, NJ) - 4,155 Section 8 vouchers
Englewood Housing Authority (Englewood, NJ) - 876 Section 8 vouchers
Cliffside Park Housing Authority (Cliffside Park, NJ) - 706 Section 8 vouchers
Edgewater Housing Authority (Edgewater, NJ) - 693 Section 8 vouchers
Fort Lee Housing Authority (Fort Lee, NJ) - 536 Section 8 vouchers
Housing Authority of the Borough of Lodi (Lodi, NJ) - 477 Section 8 vouchers
Garfield Housing Authority (Garfield, NJ)

ZIP code 07652, located in the heart of New Jersey's affluent communities, offers a robust rental market for landlords and small-portfolio investors. The area is characterized by high median incomes and a significant demand for rental properties, making it a prime location for investment.

The Fair Market Rent (FMR) for ZIP 07652 is set at $2840 for fiscal year 2024, indicating the government's benchmark for affordable housing in the region.
The market rent, as reported by the Census Bureau's American Community Survey (ACS), stands at $3,032, reflecting the actual average rent paid by tenants in the area.
The median home value in ZIP 07652 is $1,041,848, suggesting that homeownership is costly and drives up the demand for rentals.
Renters make up 17.4% of the population, a figure that points to a substantial portion of residents preferring or needing to lease their homes.
The days on market (DOM) for rental listings is 24 days, which is relatively low, indicating strong tenant interest and quick property turnover.
The median household income in the area is $144,349, providing evidence of the financial stability of potential tenants and the overall economic health of the region.

Investors can expect a favorable rental market in ZIP 07652, driven by high median incomes and a strong preference for leasing over purchasing. The gap between the Fair Market Rent and the actual market rent suggests opportunities for competitive pricing without compromising affordability. With a low DOM, properties are likely to be occupied promptly, minimizing vacancy periods. However, the high median home values indicate a challenging landscape for first-time homebuyers, thereby sustaining the demand for rental units. This synthesis points to ZIP 07652 as a promising investment opportunity for those looking to capitalize on a stable and active rental market.

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.