ZIP 08823 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 08823 in the Middlesex-Somerset-Hunterdon, NJ FMR area.

$2,370Efficiency
$2,5501 bedroom
$3,1802 bedrooms
$3,7903 bedrooms
$4,2504 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$2,370$2,133$2,607$1,953
1 bedroom$2,550$2,295$2,805$2,103
2 bedrooms$3,180$2,862$3,498$2,623
3 bedrooms$3,790$3,411$4,169$3,125
4 bedrooms$4,250$3,825$4,675$3,508

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

Income in ZIP 08823

$101,425average adjusted gross income per tax return (2022)
$84,617average salaries and wages per return
5,090tax returns filed
38%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00018.3%
$25,000 to $50,00015.5%
$50,000 to $75,00016.9%
$75,000 to $100,00014.1%
$100,000 to $200,00024.0%
$200,000 or more11.2%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 7.3% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 08823?

HUD's FY2027 Small Area FMRs for ZIP 08823 (Middlesex-Somerset-Hunterdon, NJ) are $2,370 efficiency, $2,550 one bedroom, $3,180 two bedrooms, $3,790 three and $4,250 four bedrooms.

What payment standard can a housing authority set in ZIP 08823?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $2,862 to $3,498.

How affordable is rent in ZIP 08823?

Tax returns filed from ZIP 08823 reported an average adjusted gross income of $101,425 (2022). A two-bedroom unit at the Small Area FMR costs $38,160 a year, or 38% of that income.