FY2027 Small Area FMR · Morristown, NJ

ZIP 07960 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 07960 (Morristown, NJ) is $3,340 a month, up 3.1% from FY2026. That is 50% above the Newark, NJ area-wide FMR of $2,233.

2-bedroom SAFMR$3,340per month ▲ 3.1%

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

Rank in the area11thof 161 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$3,006

2 BR Small Area FMR$3,340

110% of SAFMR$3,674

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

Studio$2,450▲ 3.4%

1 BR$2,770▲ 3.4%

2 BR$3,340▲ 3.1%

3 BR$4,170▲ 2.7%

4 BR$4,770▲ 3.5%

FY2027 FY2026

Where 07960 sits in the Newark, NJ area

Of the 161 ZIP codes HUD lists for the area, 07960 has the 11th 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 $3,340 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	$2,450	$2,205 – $2,695	$1,637	$2,370
1 bedroom	$2,770	$2,493 – $3,047	$1,850	$2,680
2 bedrooms	$3,340	$3,006 – $3,674	$2,233	$3,240
3 bedrooms	$4,170	$3,753 – $4,587	$2,785	$4,060
4 bedrooms	$4,770	$4,293 – $5,247	$3,188	$4,610

A household renting a two-bedroom home at the Small Area FMR of $3,340 needs about $133,600 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 07960 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
07961	Convent Station	3.5 mi	$3,240
07927	Cedar Knolls	3.6 mi	$3,350
07926	Brookside	3.8 mi	$3,340
07976	New Vernon	4.0 mi	$2,550
07970	Mount Freedom	4.1 mi	$2,910
07935	Green Village	4.4 mi	$3,300

Questions

What is the Fair Market Rent for ZIP code 07960?

HUD's FY2027 Small Area Fair Market Rents for 07960 are $2,450 (studio), $2,770 (1 BR), $3,340 (2 BR), $4,170 (3 BR) and $4,770 (4 BR) a month.

What is the Section 8 payment standard in 07960?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 07960 that range is $3,006 to $3,674 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 07960?

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.