FY2027 Small Area FMR · Franklin Park, NJ

ZIP 08823 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 08823 (Franklin Park, NJ) is $3,180 a month, up 6.0% from FY2026. That is 21% above the Middlesex-Somerset-Hunterdon, NJ area-wide FMR of $2,623.

2-bedroom SAFMR$3,180per month ▲ 6.0%

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

Rank in the area6thof 114 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$2,862

2 BR Small Area FMR$3,180

110% of SAFMR$3,498

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

Studio$2,370▲ 8.7%

1 BR$2,550▲ 6.7%

2 BR$3,180▲ 6.0%

3 BR$3,790▲ 5.3%

4 BR$4,250▲ 6.8%

FY2027 FY2026

Where 08823 sits in the Middlesex-Somerset-Hunterdon, NJ area

Of the 114 ZIP codes HUD lists for the area, 08823 has the 6th 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 $3,180 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	$2,370	$2,133 – $2,607	$1,953	$2,180
1 bedroom	$2,550	$2,295 – $2,805	$2,103	$2,390
2 bedrooms	$3,180	$2,862 – $3,498	$2,623	$3,000
3 bedrooms	$3,790	$3,411 – $4,169	$3,125	$3,600
4 bedrooms	$4,250	$3,825 – $4,675	$3,508	$3,980

A household renting a two-bedroom home at the Small Area FMR of $3,180 needs about $127,200 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 08823 lies mainly in Somerset 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
08824	Kendall Park	1.3 mi	$2,980
08852	Monmouth Junction	3.6 mi	$2,690
08902	North Brunswick	4.2 mi	$2,950
08873	Somerset	4.4 mi	$2,840
08528	Kingston	4.5 mi	$2,890
08502	Belle Mead	4.7 mi	$3,370

Questions

What is the Fair Market Rent for ZIP code 08823?

HUD's FY2027 Small Area Fair Market Rents for 08823 are $2,370 (studio), $2,550 (1 BR), $3,180 (2 BR), $3,790 (3 BR) and $4,250 (4 BR) a month.

What is the Section 8 payment standard in 08823?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 08823 that range is $2,862 to $3,498 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 08823?

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.