ZIP 07022 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 07022 in the Bergen-Passaic, NJ FMR area.

$1,650Efficiency
$1,8501 bedroom
$2,1202 bedrooms
$2,5703 bedrooms
$3,2504 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,650$1,485$1,815$1,772
1 bedroom$1,850$1,665$2,035$1,987
2 bedrooms$2,120$1,908$2,332$2,282
3 bedrooms$2,570$2,313$2,827$2,771
4 bedrooms$3,250$2,925$3,575$3,497

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Income in ZIP 07022

$48,495average adjusted gross income per tax return (2022)
$38,690average salaries and wages per return
7,160tax returns filed
52%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00045.1%
$25,000 to $50,00021.5%
$50,000 to $75,00013.0%
$75,000 to $100,0008.2%
$100,000 to $200,0009.5%
$200,000 or more2.7%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 18.0% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 07022?

HUD's FY2027 Small Area FMRs for ZIP 07022 (Bergen-Passaic, NJ) are $1,650 efficiency, $1,850 one bedroom, $2,120 two bedrooms, $2,570 three and $3,250 four bedrooms.

What payment standard can a housing authority set in ZIP 07022?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,908 to $2,332.

How affordable is rent in ZIP 07022?

Tax returns filed from ZIP 07022 reported an average adjusted gross income of $48,495 (2022). A two-bedroom unit at the Small Area FMR costs $25,440 a year, or 52% of that income.