FY2027 Small Area FMR · Pequannock, NJ

ZIP 07440 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 07440 (Pequannock, NJ) is $2,640 a month, up 0.8% from FY2026. That is 18% above the Newark, NJ area-wide FMR of $2,233.

2-bedroom SAFMR$2,640per month ▲ 0.8%

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

Rank in the area54thof 161 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$2,376

2 BR Small Area FMR$2,640

110% of SAFMR$2,904

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

Studio$1,950▲ 1.0%

1 BR$2,200▲ 0.9%

2 BR$2,640▲ 0.8%

3 BR$3,280▲ 0.3%

4 BR$3,810▲ 0.8%

FY2027 FY2026

Where 07440 sits in the Newark, NJ area

Of the 161 ZIP codes HUD lists for the area, 07440 has the 54th 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 $2,640 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	$1,950	$1,755 – $2,145	$1,637	$1,930
1 bedroom	$2,200	$1,980 – $2,420	$1,850	$2,180
2 bedrooms	$2,640	$2,376 – $2,904	$2,233	$2,620
3 bedrooms	$3,280	$2,952 – $3,608	$2,785	$3,270
4 bedrooms	$3,810	$3,429 – $4,191	$3,188	$3,780

A household renting a two-bedroom home at the Small Area FMR of $2,640 needs about $105,600 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 07440 lies mainly in Morris 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
07035	Lincoln Park	1.5 mi	$2,400
07444	Pompton Plains	1.6 mi	$2,860
07470	Wayne	2.5 mi	$2,670
07082	Towaco	3.1 mi	$2,670
07457	Riverdale	3.6 mi	$3,280
07442	Pompton Lakes	3.9 mi	$2,380

Questions

What is the Fair Market Rent for ZIP code 07440?

HUD's FY2027 Small Area Fair Market Rents for 07440 are $1,950 (studio), $2,200 (1 BR), $2,640 (2 BR), $3,280 (3 BR) and $3,810 (4 BR) a month.

What is the Section 8 payment standard in 07440?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 07440 that range is $2,376 to $2,904 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 07440?

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.