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 | $2,010 |
| 1 Bedroom | $2,260 |
| 2 Bedrooms | $2,590 |
| 3 Bedrooms | $3,150 |
| 4 Bedrooms | $3,970 |
| 5 Bedrooms | $4,605 |
| 6 Bedrooms | $5,158 |
| 7 Bedrooms | $5,571 |
| 8 Bedrooms | $5,850 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,590 | $557,038 | 0.46% | F |
| 3BR | $3,150 | $670,149 | 0.47% | F |
| 4BR | $3,970 | $759,333 | 0.52% | F |
U.S. Census Bureau data (2024)
Saddle Brook, NJ (ZIP 07663) is situated within the Bergen-Passaic, NJ HUD Metro FMR Area. The Fair Market Rent (FMR) for ZIP 07663 in fiscal year 2024 is set at $2210, which is lower than the average market rent of $2,605. This indicates that Saddle Brook offers rental properties at a slightly discounted rate compared to the overall market within the metro area.
The median home value in Saddle Brook is $661,348, which is consistent with the average home values seen in other ZIP codes within the Bergen-Passaic, NJ HUD Metro FMR Area. This suggests that the housing market in Saddle Brook is neither significantly undervalued nor overvalued relative to its peers.
With a renter share of 31.5%, Saddle Brook has a higher proportion of renters compared to the typical ZIP code within the metro area, where the renter share is usually around 20-25%. This higher renter share could indicate a greater demand for rental properties, potentially making it an attractive location for landlords and investors looking to capitalize on rental income.
The combination of a below-average market rent and a higher-than-average renter share makes Saddle Brook a noteworthy consideration for Section 8 landlords and small-portfolio investors. It aligns with the characteristics of a value pocket, where rental costs are relatively low, yet the demand for rentals is high due to a significant portion of the population being renters.
However, the median home value is not particularly low compared to other ZIP codes in the metro area, which means that while rental prices may be favorable, property acquisition costs are in line with the broader market. This balance between rental pricing and property values positions Saddle Brook as a solid mid-tier neighborhood for investment, offering a mix of affordability and market demand without the premium associated with higher-value areas.
To summarize, ZIP 07663 presents a viable opportunity for landlords and investors due to its below-market rental rates and above-average renter share. Despite not being a premium sub-market, it stands out as a value pocket within the Bergen-Passaic, NJ HUD Metro FMR Area, providing a good balance between rental income potential and property value.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.