What is the Fair Market Rent in Paterson, NJ?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a two-bedroom home runs from $1,610 to $2,100 a month across the 8 ZIP codes that cover Paterson.

By ZIP code: 07501 $1,970, 07502 $1,990, 07503 $2,100, 07504 $1,910, 07505 $1,610, 07513 $2,100, 07514 $1,950, 07522 $2,000.

Across the whole Bergen-Passaic, NJ HUD Metro FMR Area the two-bedroom figure is $2,282.

The Census Bureau’s median gross rent for a two-bedroom home in Paterson is $1,588 (±$37), below the Small Area figure for ZIP 07501.

Figures last updated on .

2 bedrooms, whole area
$2,282
2 bedrooms, ZIP 07501
$1,970
2 bedrooms, ZIP 07502
$1,990
2 bedrooms, ZIP 07503
$2,100

Fair Market Rents for Paterson, fiscal year 2027

HUD Fair Market Rent, dollars a month (gross rent, including utilities), beside the Census Bureau’s median gross rent for each ZIP code
Studio1 bedroom2 bedrooms3 bedrooms4 bedroomsCensus median rent
Bergen-Passaic, NJ HUD Metro FMR Area (whole area)$1,772$1,987$2,282$2,771$3,497—
ZIP 07501$1,530$1,720$1,970$2,390$3,020$1,541
ZIP 07502$1,550$1,730$1,990$2,420$3,050$1,651
ZIP 07503$1,630$1,830$2,100$2,550$3,220$1,677
ZIP 07504$1,480$1,660$1,910$2,320$2,930$1,526
ZIP 07505$1,250$1,400$1,610$1,960$2,470$1,159
ZIP 07513$1,630$1,830$2,100$2,550$3,220$1,727
ZIP 07514$1,510$1,700$1,950$2,370$2,990$1,495
ZIP 07522$1,550$1,740$2,000$2,430$3,060$1,566

A Fair Market Rent is HUD’s estimate of the gross rent (shelter plus utilities) of a modest rental home in the area.

Whether a housing authority uses the ZIP code (Small Area) figures or the area-wide one depends on whether HUD has designated the area for Small Area FMRs or the authority has opted in; ask the local housing authority which applies.

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Questions about Paterson

What is the Section 8 payment standard in Paterson?

Housing authorities set payment standards between 90% and 110% of HUD’s Fair Market Rent; for fiscal year 2027, the two-bedroom Fair Market Rent for the Bergen-Passaic, NJ HUD Metro FMR Area is $2,282, and the Small Area figure for 07501 is $1,970.

What is the Fair Market Rent for a two-bedroom in ZIP 07501?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a two-bedroom home in ZIP 07501 is $1,970 a month; the Census Bureau’s median gross rent across that ZIP code, for homes of every size, is $1,541 (±$51).

What is the Fair Market Rent for a two-bedroom in ZIP 07502?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a two-bedroom home in ZIP 07502 is $1,990 a month; the Census Bureau’s median gross rent across that ZIP code, for homes of every size, is $1,651 (±$84).

What is the Fair Market Rent for a two-bedroom in ZIP 07503?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a two-bedroom home in ZIP 07503 is $2,100 a month; the Census Bureau’s median gross rent across that ZIP code, for homes of every size, is $1,677 (±$71).

What is the Fair Market Rent for a one-bedroom in Paterson?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a one-bedroom home in ZIP 07501 is $1,720 a month, against $1,987 across the Bergen-Passaic, NJ HUD Metro FMR Area.

Sources

Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.

Figures last updated on .

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