Location: Newark, NJ | Metro: Newark, NJ HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,540 |
| 1 Bedroom | $1,740 |
| 2 Bedrooms | $2,100 |
| 3 Bedrooms | $2,620 |
| 4 Bedrooms | $3,000 |
| 5 Bedrooms | $3,480 |
| 6 Bedrooms | $3,898 |
| 7 Bedrooms | $4,210 |
| 8 Bedrooms | $4,421 |
ZIP 07837, located within the Newark, NJ HUD Metro FMR Area, presents an opportunity for landlords and small-portfolio investors looking to secure stable cash flows through their Section 8 portfolios. This area serves as a cash-flow anchor due to its favorable Fair Market Rent (FMR) figures.
The HUD Fair Market Rent for ZIP 07837 in fiscal year 2024 is set at $1910. Although the current market rent and median home value data are not available, the established FMR provides a reliable benchmark for rental pricing that ensures consistent income streams. Section 8 vouchers guarantee payment up to the FMR, making this ZIP code a dependable location for landlords seeking steady cash flows.
Investors should note that the lack of recent market rent data might indicate limited competition or a less volatile market. The absence of median home value data suggests that this area is primarily rental-focused, which aligns well with a Section 8 strategy aimed at securing long-term, stable tenancies.
In conclusion, ZIP 07837 is best suited as a cash-flow anchor within a Section 8 portfolio strategy. The guaranteed rental income up to the FMR of $1910 offers a solid financial foundation, reducing the risk associated with fluctuating market conditions and ensuring predictable returns on investment.
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.