ZIP 07722 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 07722 in the Monmouth-Ocean, NJ FMR area.

$2,500Efficiency
$2,7701 bedroom
$3,4202 bedrooms
$4,3903 bedrooms
$4,8604 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$2,500$2,250$2,750$1,671
1 bedroom$2,770$2,493$3,047$1,847
2 bedrooms$3,420$3,078$3,762$2,283
3 bedrooms$4,390$3,951$4,829$2,927
4 bedrooms$4,860$4,374$5,346$3,241

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

Income in ZIP 07722

$319,064average adjusted gross income per tax return (2022)
$157,190average salaries and wages per return
5,020tax returns filed
13%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00020.9%
$25,000 to $50,00010.6%
$50,000 to $75,0008.8%
$75,000 to $100,0007.0%
$100,000 to $200,00018.7%
$200,000 or more34.1%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 3.8% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 07722?

HUD's FY2027 Small Area FMRs for ZIP 07722 (Monmouth-Ocean, NJ) are $2,500 efficiency, $2,770 one bedroom, $3,420 two bedrooms, $4,390 three and $4,860 four bedrooms.

What payment standard can a housing authority set in ZIP 07722?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $3,078 to $3,762.

How affordable is rent in ZIP 07722?

Tax returns filed from ZIP 07722 reported an average adjusted gross income of $319,064 (2022). A two-bedroom unit at the Small Area FMR costs $41,040 a year, or 13% of that income.