ZIP 07606 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 07606 in the Bergen-Passaic, NJ FMR area.

$1,910Efficiency
$2,1401 bedroom
$2,4602 bedrooms
$2,9903 bedrooms
$3,7704 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,910$1,719$2,101$1,772
1 bedroom$2,140$1,926$2,354$1,987
2 bedrooms$2,460$2,214$2,706$2,282
3 bedrooms$2,990$2,691$3,289$2,771
4 bedrooms$3,770$3,393$4,147$3,497

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

Income in ZIP 07606

$63,950average adjusted gross income per tax return (2022)
$48,640average salaries and wages per return
1,450tax returns filed
46%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00027.6%
$25,000 to $50,00026.2%
$50,000 to $75,00018.6%
$75,000 to $100,0009.7%
$100,000 to $200,00013.8%
$200,000 or more4.1%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 13.1% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 07606?

HUD's FY2027 Small Area FMRs for ZIP 07606 (Bergen-Passaic, NJ) are $1,910 efficiency, $2,140 one bedroom, $2,460 two bedrooms, $2,990 three and $3,770 four bedrooms.

What payment standard can a housing authority set in ZIP 07606?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $2,214 to $2,706.

How affordable is rent in ZIP 07606?

Tax returns filed from ZIP 07606 reported an average adjusted gross income of $63,950 (2022). A two-bedroom unit at the Small Area FMR costs $29,520 a year, or 46% of that income.