ZIP 08540 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 08540 in the Middlesex-Somerset-Hunterdon, NJ FMR area.

Middlesex-Somerset-Hunterdon, NJ

$2,050Efficiency
$2,2801 bedroom
$2,8902 bedrooms
$3,5003 bedrooms
$3,9404 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$2,050$1,845$2,255$1,953
1 bedroom$2,280$2,052$2,508$2,103
2 bedrooms$2,890$2,601$3,179$2,623
3 bedrooms$3,500$3,150$3,850$3,125
4 bedrooms$3,940$3,546$4,334$3,508

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

Trenton-Princeton, NJ MSA

$2,050Efficiency
$2,2801 bedroom
$2,8902 bedrooms
$3,5003 bedrooms
$3,9404 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$2,050$1,845$2,255$1,561
1 bedroom$2,280$2,052$2,508$1,764
2 bedrooms$2,890$2,601$3,179$2,242
3 bedrooms$3,500$3,150$3,850$2,741
4 bedrooms$3,940$3,546$4,334$3,081

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

Income in ZIP 08540

$271,701average adjusted gross income per tax return (2022)
$166,837average salaries and wages per return
22,230tax returns filed
13%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00017.6%
$25,000 to $50,00012.5%
$50,000 to $75,0009.1%
$75,000 to $100,0007.2%
$100,000 to $200,00019.2%
$200,000 or more34.4%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 4.5% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 08540?

HUD's FY2027 Small Area FMRs for ZIP 08540 (Middlesex-Somerset-Hunterdon, NJ) are $2,050 efficiency, $2,280 one bedroom, $2,890 two bedrooms, $3,500 three and $3,940 four bedrooms.

What payment standard can a housing authority set in ZIP 08540?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $2,601 to $3,179.

How affordable is rent in ZIP 08540?

Tax returns filed from ZIP 08540 reported an average adjusted gross income of $271,701 (2022). A two-bedroom unit at the Small Area FMR costs $34,680 a year, or 13% of that income.