ZIP 08520 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 08520 in the Middlesex-Somerset-Hunterdon, NJ FMR area.

Middlesex-Somerset-Hunterdon, NJ

$1,560Efficiency

$1,7601 bedroom

$2,2402 bedrooms

$2,7403 bedrooms

$3,0804 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$1,560	$1,404	$1,716	$1,953
1 bedroom	$1,760	$1,584	$1,936	$2,103
2 bedrooms	$2,240	$2,016	$2,464	$2,623
3 bedrooms	$2,740	$2,466	$3,014	$3,125
4 bedrooms	$3,080	$2,772	$3,388	$3,508

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

Monmouth-Ocean, NJ

$1,560Efficiency

$1,7601 bedroom

$2,2402 bedrooms

$2,7403 bedrooms

$3,0804 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$1,560	$1,404	$1,716	$1,671
1 bedroom	$1,760	$1,584	$1,936	$1,847
2 bedrooms	$2,240	$2,016	$2,464	$2,283
3 bedrooms	$2,740	$2,466	$3,014	$2,927
4 bedrooms	$3,080	$2,772	$3,388	$3,241

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

Trenton-Princeton, NJ MSA

$1,560Efficiency

$1,7601 bedroom

$2,2402 bedrooms

$2,7403 bedrooms

$3,0804 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$1,560	$1,404	$1,716	$1,561
1 bedroom	$1,760	$1,584	$1,936	$1,764
2 bedrooms	$2,240	$2,016	$2,464	$2,242
3 bedrooms	$2,740	$2,466	$3,014	$2,741
4 bedrooms	$3,080	$2,772	$3,388	$3,081

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

Income in ZIP 08520

$92,294average adjusted gross income per tax return (2022)

$72,204average salaries and wages per return

15,280tax returns filed

29%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	24.4%
$25,000 to $50,000	20.3%
$50,000 to $75,000	15.0%
$75,000 to $100,000	9.8%
$100,000 to $200,000	19.8%
$200,000 or more	10.7%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 8.1% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 08520?

HUD's FY2027 Small Area FMRs for ZIP 08520 (Middlesex-Somerset-Hunterdon, NJ) are $1,560 efficiency, $1,760 one bedroom, $2,240 two bedrooms, $2,740 three and $3,080 four bedrooms.

What payment standard can a housing authority set in ZIP 08520?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $2,016 to $2,464.

How affordable is rent in ZIP 08520?

Tax returns filed from ZIP 08520 reported an average adjusted gross income of $92,294 (2022). A two-bedroom unit at the Small Area FMR costs $26,880 a year, or 29% of that income.