FY2027 Small Area FMR · Carteret, NJ

ZIP 07008 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 07008 (Carteret, NJ) is $2,880 a month, up 7.1% from FY2026. That is 10% above the Middlesex-Somerset-Hunterdon, NJ area-wide FMR of $2,623.

2-bedroom SAFMR$2,880per month ▲ 7.1%

Area-wide 2 BR FMR$2,623Middlesex-Somerset-Hunterdon

Rank in the area25thof 114 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$2,592

2 BR Small Area FMR$2,880

110% of SAFMR$3,168

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

Studio$2,140▲ 9.7%

1 BR$2,310▲ 7.9%

2 BR$2,880▲ 7.1%

3 BR$3,430▲ 6.2%

4 BR$3,850▲ 7.8%

FY2027 FY2026

Where 07008 sits in the Middlesex-Somerset-Hunterdon, NJ area

Of the 114 ZIP codes HUD lists for the area, 07008 has the 25th highest two-bedroom Small Area FMR. Middlesex-Somerset-Hunterdon, NJ is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $2,623 for two bedrooms; an agency that opts in to Small Area FMRs would use $2,880 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$2,140	$1,926 – $2,354	$1,953	$1,950
1 bedroom	$2,310	$2,079 – $2,541	$2,103	$2,140
2 bedrooms	$2,880	$2,592 – $3,168	$2,623	$2,690
3 bedrooms	$3,430	$3,087 – $3,773	$3,125	$3,230
4 bedrooms	$3,850	$3,465 – $4,235	$3,508	$3,570

A household renting a two-bedroom home at the Small Area FMR of $2,880 needs about $115,200 a year to keep housing costs at 30% of income. The area median family income is $154,800 and the 80% low-income limit for four people is $114,600. ZIP code 07008 lies mainly in Middlesex County. See the Middlesex-Somerset-Hunterdon, NJ metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
07064	Port Reading	1.5 mi	$2,590
07001	Avenel	2.2 mi	$2,710
07077	Sewaren	2.4 mi	$2,240
07036	Linden	2.9 mi	$2,160
10311	Staten Island	2.9 mi	$2,810
07065	Rahway	3.2 mi	$2,460

Questions

What is the Fair Market Rent for ZIP code 07008?

HUD's FY2027 Small Area Fair Market Rents for 07008 are $2,140 (studio), $2,310 (1 BR), $2,880 (2 BR), $3,430 (3 BR) and $3,850 (4 BR) a month.

What is the Section 8 payment standard in 07008?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 07008 that range is $2,592 to $3,168 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 07008?

The FY2026 income limits of the Middlesex-Somerset-Hunterdon, NJ area apply: median family income $154,800, low-income (80%) limit $114,600 for a family of four.