Location: Newark, NJ | Metro: Newark, NJ HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,870 |
| 1 Bedroom | $2,110 |
| 2 Bedrooms | $2,550 |
| 3 Bedrooms | $3,180 |
| 4 Bedrooms | $3,640 |
| 5 Bedrooms | $4,222 |
| 6 Bedrooms | $4,729 |
| 7 Bedrooms | $5,107 |
| 8 Bedrooms | $5,362 |
The available data does not provide a complete picture for ZIP 07962 in New Jersey. However, we can classify it based on the Fair Market Rent (FMR) figure of $2300 for the fiscal year 2024. Since the market rent and home value data are not available, we cannot determine if this is a high-yield market relative to its property values. Stability indicators such as the percentage of renters, days on market (DOM), and median income are also missing.
To make an informed assessment, we need to rely on the FMR alone. With an FMR of $2300, the potential rental income for Section 8 participants aligns with this figure. If the market rent is significantly higher, it could indicate a high-yield opportunity. Conversely, if the market rent is close to the FMR, it suggests a steady cash flow scenario.
Without additional data points, it is challenging to definitively categorize ZIP 07962. To proceed, we must gather specific market rent and home value figures to assess the yield accurately. Similarly, information on the percentage of renters, DOM, and median income is essential to evaluate stability.
A high-yield/low-stability classification would require a significant gap between the FMR and market rent, coupled with indicators of volatility such as high DOM and fluctuating median incomes. In contrast, a steady cash flow zone would show little difference between the FMR and market rent, along with signs of stability like low DOM and consistent income levels.
To conclude, ZIP 07962 stands as an unknown territory without sufficient data. Landlords and small-portfolio investors should seek out comprehensive local real estate reports to fully understand the potential for both yield and stability.
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.