ZIP 08904 Fair Market Rent FY2027
Small Area Fair Market Rents for ZIP code 08904 in the Middlesex-Somerset-Hunterdon, NJ FMR area.
Payment standard range
| Unit size | SAFMR | 90% | 110% | Metro FMR |
|---|---|---|---|---|
| Efficiency | $1,940 | $1,746 | $2,134 | $1,953 |
| 1 bedroom | $2,090 | $1,881 | $2,299 | $2,103 |
| 2 bedrooms | $2,610 | $2,349 | $2,871 | $2,623 |
| 3 bedrooms | $3,110 | $2,799 | $3,421 | $3,125 |
| 4 bedrooms | $3,490 | $3,141 | $3,839 | $3,508 |
Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.
Income in ZIP 08904
| Adjusted gross income | Share of returns |
|---|---|
| $1 to $25,000 | 22.3% |
| $25,000 to $50,000 | 21.8% |
| $50,000 to $75,000 | 14.5% |
| $75,000 to $100,000 | 9.7% |
| $100,000 to $200,000 | 18.6% |
| $200,000 or more | 13.1% |
IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 10.2% of returns claimed the Earned Income Tax Credit.
Questions and answers
What is the Small Area Fair Market Rent for ZIP code 08904?
HUD's FY2027 Small Area FMRs for ZIP 08904 (Middlesex-Somerset-Hunterdon, NJ) are $1,940 efficiency, $2,090 one bedroom, $2,610 two bedrooms, $3,110 three and $3,490 four bedrooms.
What payment standard can a housing authority set in ZIP 08904?
Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $2,349 to $2,871.
How affordable is rent in ZIP 08904?
Tax returns filed from ZIP 08904 reported an average adjusted gross income of $106,584 (2022). A two-bedroom unit at the Small Area FMR costs $31,320 a year, or 29% of that income.