HUD Fair Market Rent · FY 2026 · effective Oct 1, 2025 to Sep 30, 2026
Fair Market Rent in Mercer County, New Jersey (FY 2026)
A two-bedroom in Mercer County carries a FY 2026 Fair Market Rent of $1,950 a month, effective October 1, 2025 through September 30, 2026. Everything Section 8 pays in Mercer keys off that figure.
2 bedroom FMR
$1,950
FY 2026, utilities included
Payment standard range
$1,755 to $2,145
90% to 110% of FMR
Income to afford 2BR
$78,000
per year, at 30% of income
Rank in New Jersey
13th of 21
by 2BR FMR
HUD has already published FY 2027. On October 1, 2026 the two-bedroom rate in Mercer moves to $2,242. That's up 15%. The full FY 2027 table is in the history section below.
HUD's number is one input. What does a two-bedroom in Mercer actually rent for?
Search any address in Mercer for a rent estimate built from nearby comps, with the HUD figure right next to it.
FY 2026 Fair Market Rents
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2025 |
|---|---|---|---|---|---|
| Studio | $1,344 | $1,210 to $1,478 | $53,760 | $25.85/hr | -3.4% |
| 1 bedroom | $1,545 | $1,391 to $1,700 | $61,800 | $29.71/hr | -3.7% |
| 2 bedroom | $1,950 | $1,755 to $2,145 | $78,000 | $37.50/hr | -3.8% |
| 3 bedroom | $2,338 | $2,104 to $2,572 | $93,520 | $44.96/hr | -4.3% |
| 4 bedroom | $2,670 | $2,403 to $2,937 | $106,800 | $51.35/hr | -2.8% |
5 to 8 bedrooms (PropMetrics estimates)
HUD stops at four bedrooms. These add 15% of the four-bedroom rent per extra bedroom. It's our estimate, not a HUD number.
| Bedrooms | Estimated FMR | Payment standard |
|---|---|---|
| 5 bedroom Estimate | $3,071 | $2,764 to $3,378 |
| 6 bedroom Estimate | $3,471 | $3,124 to $3,818 |
| 7 bedroom Estimate | $3,872 | $3,485 to $4,259 |
| 8 bedroom Estimate | $4,272 | $3,845 to $4,699 |
Source: HUD Office of Policy Development and Research, FY 2026 Fair Market Rents. Rents include utilities. huduser.gov
Fair Market Rent is HUD's estimate of what a modest, decent unit rents for in an area, utilities included. It's set once a year and runs October to September. For FY 2026 that's October 1, 2025 through September 30, 2026. In Mercer, that runs from $1,344 for a studio up to $2,670 for four bedrooms, all five rates in the table above.
Mercer is its own HUD metro area (Trenton-Princeton, NJ), so the rate here is set from rents inside the county rather than a wider region.
Among New Jersey's 21 counties, Mercer ranks 13th for two-bedroom FMR. That's about 12% below the state median of $2,205 and about 92% above the national median county at $1,018. About 383,732 people live here, 12th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,740 in 08620 (Trenton) and $2,930 in 08542 (Princeton), with the 31 ZIP codes in between. Housing authorities in HUD-designated metros use those ZIP rates instead of the county rate. Everywhere else the ZIP numbers show where rents actually sit, and the county rate stays the official standard.
| ZIP | City | 2BR rate | vs county |
|---|---|---|---|
| 08520 | Hightstown | $1,990 | +2.1% |
| 08525 | Hopewell | $2,290 | +17.4% |
| 08534 | Pennington | $2,520 | +29.2% |
| 08540 | Princeton | $2,630 | +34.9% |
| 08541 | Princeton | $1,950County rate | — |
| 08542 | Princeton | $2,930 | +50.3% |
| 08543 | Princeton | $1,950 | 0.0% |
| 08544 | Princeton | $2,700 | +38.5% |
| 08550 | Princeton Junction | $2,930 | +50.3% |
| 08560 | Titusville | $2,930 | +50.3% |
| 08561 | Windsor | $2,220 | +13.8% |
| 08601 | Trenton | $1,950 | 0.0% |
| 08602 | Trenton | $1,950 | 0.0% |
| 08603 | Trenton | $1,950 | 0.0% |
| 08604 | Trenton | $1,950 | 0.0% |
| 08605 | Trenton | $1,950 | 0.0% |
| 08606 | Trenton | $1,950 | 0.0% |
| 08607 | Trenton | $1,950 | 0.0% |
| 08608 | Trenton | $1,830 | -6.2% |
| 08609 | Trenton | $1,830 | -6.2% |
| 08610 | Trenton | $1,820 | -6.7% |
| 08611 | Trenton | $1,830 | -6.2% |
| 08618 | Trenton | $1,830 | -6.2% |
| 08619 | Trenton | $2,080 | +6.7% |
| 08620 | Trenton | $1,740 | -10.8% |
| 08625 | Trenton | $1,950County rate | — |
| 08628 | Trenton | $1,950 | 0.0% |
| 08629 | Trenton | $1,830 | -6.2% |
| 08638 | Trenton | $1,940 | -0.5% |
| 08644 | Trenton | $1,950County rate | — |
| 08645 | Trenton | $1,950County rate | — |
| 08646 | Trenton | $1,950County rate | — |
| 08647 | Trenton | $1,950County rate | — |
| 08648 | Lawrence Township | $2,470 | +26.7% |
| 08650 | Trenton | $1,950 | 0.0% |
| 08666 | Trenton | $1,950County rate | — |
| 08690 | Trenton | $2,060 | +5.6% |
| 08691 | Trenton | $2,480 | +27.2% |
| 08695 | Trenton | $1,950County rate | — |
What a voucher pays here
The voucher doesn't pay the FMR itself. It pays the payment standard. Housing authorities set it anywhere from 90% to 110% of FMR, which puts a two-bedroom standard in Mercer somewhere between $1,755 and $2,145. The tenant pays roughly 30% of their income, the voucher covers the rest up to the standard, and the PHA won't approve a rent above what comparable unassisted units get.
$1,950 a month is affordable, by HUD's 30% rule, on an income of roughly $78,000 a year. Put another way, $38 an hour full time.
Worked example for a two-bedroom, assuming the rent equals the payment standard. Tenant pays 30% of monthly income, HUD's housing assistance payment covers the rest.
| Monthly household income | Tenant pays (30%) | HAP at 90% ($1,755) | HAP at 100% ($1,950) | HAP at 110% ($2,145) |
|---|---|---|---|---|
| $2,500 | $750 | $1,005 | $1,200 | $1,395 |
| $4,000 | $1,200 | $555 | $750 | $945 |
Rate history
The two-bedroom rate went down 4% from FY 2025 ($2,028) to FY 2026 ($1,950). Since FY 2020 it's up 34% in total, about 5.0% a year. The New Jersey median moved up 8% over the same year.
| Year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $949 | $1,128 | $1,456 | $1,814 | $2,056 | — |
| FY 2021 | $1,015 | $1,170 | $1,539 | $1,914 | $2,107 | +5.7% |
| FY 2022 | $1,072 | $1,226 | $1,613 | $1,994 | $2,187 | +4.8% |
| FY 2023 | $1,158 | $1,321 | $1,732 | $2,108 | $2,327 | +7.4% |
| FY 2024 | $1,354 | $1,550 | $1,998 | $2,416 | $2,661 | +15.4% |
| FY 2025 | $1,391 | $1,605 | $2,028 | $2,443 | $2,747 | +1.5% |
| FY 2026 | $1,344 | $1,545 | $1,950 | $2,338 | $2,670 | -3.8% |
| FY 2027 | $1,561 | $1,764 | $2,242 | $2,741 | $3,081 | +15.0% |
Nearby counties
Burlington County
$1,81019 mi · pop 461,853
Somerset County
$2,48621 mi · pop 344,978
Middlesex County
$2,48622 mi · pop 860,147
Hunterdon County
$2,48623 mi · pop 129,099
Monmouth County
$2,32829 mi · pop 643,064
Camden County
$1,81033 mi · pop 522,581
Union County
$2,20534 mi · pop 572,079
Ocean County
$2,32837 mi · pop 638,691
Questions people ask
$1,950 a month for FY 2026, which runs October 1, 2025 through September 30, 2026. The other rates are $1,344 for a studio, $1,545 for one bedroom, $2,338 for three and $2,670 for four.
Tools for this county
Fair Market Rent lookup
Look up any ZIP code's Small Area FMR by bedroom count.
Section 8 rent calculator
Work out the payment standard and tenant share for a specific rent.
What is Fair Market Rent?
How HUD calculates FMR and what it means for landlords.
Rent affordability calculator
See what income a household needs for a given rent.
What does a rental in Mercer actually go for?
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