FY2027 Small Area FMR · Garwood, NJ

ZIP 07027 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 07027 (Garwood, NJ) is $2,250 a month, down 2.2% from FY2026. That is 1% above the Newark, NJ area-wide FMR of $2,233.

2-bedroom SAFMR$2,250per month ▼ 2.2%

Area-wide 2 BR FMR$2,233Newark, NJ

Rank in the area109thof 161 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$2,025

2 BR Small Area FMR$2,250

110% of SAFMR$2,475

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

Studio$1,650▼ 1.8%

1 BR$1,860▼ 2.1%

2 BR$2,250▼ 2.2%

3 BR$2,810▼ 2.4%

4 BR$3,210▼ 1.8%

FY2027 FY2026

Where 07027 sits in the Newark, NJ area

Of the 161 ZIP codes HUD lists for the area, 07027 has the 109th highest two-bedroom Small Area FMR. Newark, 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 $2,233 for two bedrooms; an agency that opts in to Small Area FMRs would use $2,250 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	$1,650	$1,485 – $1,815	$1,637	$1,680
1 bedroom	$1,860	$1,674 – $2,046	$1,850	$1,900
2 bedrooms	$2,250	$2,025 – $2,475	$2,233	$2,300
3 bedrooms	$2,810	$2,529 – $3,091	$2,785	$2,880
4 bedrooms	$3,210	$2,889 – $3,531	$3,188	$3,270

A household renting a two-bedroom home at the Small Area FMR of $2,250 needs about $90,000 a year to keep housing costs at 30% of income. The area median family income is $138,400 and the 80% low-income limit for four people is $106,800. ZIP code 07027 lies mainly in Union County. See the Newark, NJ metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
07090	Westfield	1.1 mi	$3,060
07016	Cranford	1.1 mi	$2,870
07066	Clark	2.3 mi	$2,370
07033	Kenilworth	2.6 mi	$2,710
07092	Mountainside	2.8 mi	$2,960
07076	Scotch Plains	2.9 mi	$2,580

Questions

What is the Fair Market Rent for ZIP code 07027?

HUD's FY2027 Small Area Fair Market Rents for 07027 are $1,650 (studio), $1,860 (1 BR), $2,250 (2 BR), $2,810 (3 BR) and $3,210 (4 BR) a month.

What is the Section 8 payment standard in 07027?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 07027 that range is $2,025 to $2,475 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 07027?

The FY2026 income limits of the Newark, NJ area apply: median family income $138,400, low-income (80%) limit $106,800 for a family of four.