What is the Fair Market Rent in Shrewsbury Borough, NJ?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a two-bedroom home in ZIP 07702, which covers Shrewsbury Borough, is $3,420 a month.

Across the whole Monmouth-Ocean, NJ HUD Metro FMR Area the two-bedroom figure is $2,283.

Figures last updated on November 12, 2026.

2 bedrooms, whole area: $2,283
2 bedrooms, ZIP 07702: $3,420

Fair Market Rents for Shrewsbury Borough, 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
	Studio	1 bedroom	2 bedrooms	3 bedrooms	4 bedrooms	Census median rent
Monmouth-Ocean, NJ HUD Metro FMR Area (whole area)	$1,671	$1,847	$2,283	$2,927	$3,241	—
ZIP 07702	$2,500	$2,770	$3,420	$4,390	$4,860	$3,472

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 Shrewsbury Borough

What is the Section 8 payment standard in Shrewsbury Borough?

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 Monmouth-Ocean, NJ HUD Metro FMR Area is $2,283, and the Small Area figure for 07702 is $3,420.

What is the Fair Market Rent for a two-bedroom in ZIP 07702?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a two-bedroom home in ZIP 07702 is $3,420 a month; the Census Bureau’s median gross rent across that ZIP code, for homes of every size, is $3,472 (±$1,644).

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

HUD’s fiscal year 2027 Small Area Fair Market Rent for a one-bedroom home in ZIP 07702 is $2,770 a month, against $1,847 across the Monmouth-Ocean, 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.