FY2027 Small Area FMR · Bayonne, NJ

ZIP 07002 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 07002 (Bayonne, NJ) is $2,500 a month, up 2.9% from FY2026. That is 10% below the Jersey City, NJ area-wide FMR of $2,792.

2-bedroom SAFMR$2,500per month ▲ 2.9%

Area-wide 2 BR FMR$2,792Jersey City, NJ

Rank in the area18thof 20 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$2,250

2 BR Small Area FMR$2,500

110% of SAFMR$2,750

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$2,200▲ 3.8%

1 BR$2,250▲ 4.2%

2 BR$2,500▲ 2.9%

3 BR$3,040▲ 2.7%

4 BR$3,560▲ 2.3%

FY2027 FY2026

Where 07002 sits in the Jersey City, NJ area

Of the 20 ZIP codes HUD lists for the area, 07002 has the 18th highest two-bedroom Small Area FMR. Jersey City, NJ is one of the 65 metro areas where HUD requires Small Area FMRs for the Housing Choice Voucher program (designated 2023), so local housing agencies must set payment standards from this ZIP code's figure, normally between $2,250 and $2,750 for two bedrooms.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$2,200	$1,980 – $2,420	$2,462	$2,120
1 bedroom	$2,250	$2,025 – $2,475	$2,514	$2,160
2 bedrooms	$2,500	$2,250 – $2,750	$2,792	$2,430
3 bedrooms	$3,040	$2,736 – $3,344	$3,392	$2,960
4 bedrooms	$3,560	$3,204 – $3,916	$3,976	$3,480

A household renting a two-bedroom home at the Small Area FMR of $2,500 needs about $100,000 a year to keep housing costs at 30% of income. The area median family income is $110,100 and the 80% low-income limit for four people is $117,900. ZIP code 07002 lies mainly in Hudson County. See the Jersey City, NJ county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
10310	Staten Island	2.1 mi	$2,770
10301	Staten Island	2.6 mi	$3,050
10302	Staten Island	2.6 mi	$2,820
07305	Jersey City	2.9 mi	$2,460
07201	Elizabeth	3.6 mi	$1,990
07206	Elizabethport	3.9 mi	$2,120

Questions

What is the Fair Market Rent for ZIP code 07002?

HUD's FY2027 Small Area Fair Market Rents for 07002 are $2,200 (studio), $2,250 (1 BR), $2,500 (2 BR), $3,040 (3 BR) and $3,560 (4 BR) a month.

What is the Section 8 payment standard in 07002?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 07002 that range is $2,250 to $2,750 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 07002?

The FY2026 income limits of the Jersey City, NJ area apply: median family income $110,100, low-income (80%) limit $117,900 for a family of four.