ZIP 07931 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 07931 in the Middlesex-Somerset-Hunterdon, NJ FMR area.

Middlesex-Somerset-Hunterdon, NJ

$2,210Efficiency
$2,4101 bedroom
$2,9802 bedrooms
$3,6003 bedrooms
$4,0604 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$2,210$1,989$2,431$1,953
1 bedroom$2,410$2,169$2,651$2,103
2 bedrooms$2,980$2,682$3,278$2,623
3 bedrooms$3,600$3,240$3,960$3,125
4 bedrooms$4,060$3,654$4,466$3,508

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

Newark, NJ

$2,210Efficiency
$2,4101 bedroom
$2,9802 bedrooms
$3,6003 bedrooms
$4,0604 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$2,210$1,989$2,431$1,637
1 bedroom$2,410$2,169$2,651$1,850
2 bedrooms$2,980$2,682$3,278$2,233
3 bedrooms$3,600$3,240$3,960$2,785
4 bedrooms$4,060$3,654$4,466$3,188

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

Income in ZIP 07931

$760,111average adjusted gross income per tax return (2022)
$276,625average salaries and wages per return
1,660tax returns filed
5%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00018.7%
$25,000 to $50,00010.8%
$50,000 to $75,0007.2%
$75,000 to $100,0005.4%
$100,000 to $200,00017.5%
$200,000 or more40.4%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 3.6% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 07931?

HUD's FY2027 Small Area FMRs for ZIP 07931 (Middlesex-Somerset-Hunterdon, NJ) are $2,210 efficiency, $2,410 one bedroom, $2,980 two bedrooms, $3,600 three and $4,060 four bedrooms.

What payment standard can a housing authority set in ZIP 07931?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $2,682 to $3,278.

How affordable is rent in ZIP 07931?

Tax returns filed from ZIP 07931 reported an average adjusted gross income of $760,111 (2022). A two-bedroom unit at the Small Area FMR costs $35,760 a year, or 5% of that income.