HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Mercer County, New Jersey (FY 2027)
A two-bedroom in Mercer County carries a FY 2027 Fair Market Rent of $2,242 a month, effective October 1, 2026 through September 30, 2027. Everything Section 8 pays in Mercer keys off that figure.
Two-bedroom FMR
$2,242
+15.0% from FY 2026
Payment standard
$2,018–$2,466
90% to 110% of the FMR, two-bedroom
Income to afford
$89,680
a year, with rent at 30% of income
Rank in New Jersey
9th of 21
by two-bedroom FMR, highest first
FY 2027 Fair Market Rents
Payment standard is the 90% to 110% band a housing authority can set. Income needed puts rent at 30% of gross income, and the hourly wage assumes a 40-hour week.
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2026 |
|---|---|---|---|---|---|
| Studio | $1,561 | $1,405–$1,717 | $62,440 | $30.02/hr | +16.1% |
| 1 bedroom | $1,764 | $1,588–$1,940 | $70,560 | $33.92/hr | +14.2% |
| 2 bedroom | $2,242 | $2,018–$2,466 | $89,680 | $43.12/hr | +15.0% |
| 3 bedroom | $2,741 | $2,467–$3,015 | $109,640 | $52.71/hr | +17.2% |
| 4 bedroom | $3,081 | $2,773–$3,389 | $123,240 | $59.25/hr | +15.4% |
Five to eight 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 | $3,543 | $3,189–$3,897 |
| 6 bedroom Estimate | $4,005 | $3,605–$4,406 |
| 7 bedroom Estimate | $4,467 | $4,020–$4,914 |
| 8 bedroom Estimate | $4,930 | $4,437–$5,423 |
Source: HUD Office of Policy Development and Research, FY 2027 Fair Market Rents. Rents include utilities. huduser.gov
Market check
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.
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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 $2,018 and $2,466. 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.
$2,242 a month is affordable, by HUD's 30% rule, on an income of roughly $89,680 a year. Put another way, $43 an hour full time.
Worked example for a two-bedroom renting at the payment standard. The tenant pays 30% of monthly income and the voucher covers the rest.
| Monthly household income | Tenant pays (30%) | Voucher pays at 90%$2,018 | Voucher pays at 100%$2,242 | Voucher pays at 110%$2,466 |
|---|---|---|---|---|
| $2,500 | $750 | $1,268 | $1,492 | $1,716 |
| $4,000 | $1,200 | $818 | $1,042 | $1,266 |
Rate history
The two-bedroom rate went up 15% from FY 2026 ($1,950) to FY 2027 ($2,242). Since FY 2020 it's up 54% in total, about 6.4% a year. The New Jersey median moved up 1% over the same year.
| Fiscal 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 2027In effect | $1,561 | $1,764 | $2,242 | $2,741 | $3,081 | +15.0% |
About this rate
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 2027 that's October 1, 2026 through September 30, 2027. In Mercer, that runs from $1,561 for a studio up to $3,081 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 9th for two-bedroom FMR. That's within a couple percent of the state median of $2,233 and about 111% above the national median county at $1,063. About 385,864 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 $1,760 in 08608 (Trenton) and $3,360 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 | $2,240 | -0.1% |
| 08525 | Hopewell | $2,450 | +9.3% |
| 08534 | Pennington | $2,790 | +24.4% |
| 08540 | Princeton | $2,890 | +28.9% |
| 08541 | Princeton | $2,242County rate | — |
| 08542 | Princeton | $3,360 | +49.9% |
| 08543 | Princeton | $2,240 | -0.1% |
| 08544 | Princeton | $3,000 | +33.8% |
| 08550 | Princeton Junction | $3,360 | +49.9% |
| 08560 | Titusville | $2,640 | +17.8% |
| 08561 | Windsor | $2,510 | +12.0% |
| 08601 | Trenton | $2,240 | -0.1% |
| 08602 | Trenton | $2,240 | -0.1% |
| 08603 | Trenton | $2,240 | -0.1% |
| 08604 | Trenton | $2,240 | -0.1% |
| 08605 | Trenton | $2,240 | -0.1% |
| 08606 | Trenton | $2,240 | -0.1% |
| 08607 | Trenton | $2,240 | -0.1% |
| 08608 | Trenton | $1,760 | -21.5% |
| 08609 | Trenton | $1,830 | -18.4% |
| 08610 | Trenton | $2,090 | -6.8% |
| 08611 | Trenton | $2,030 | -9.5% |
| 08618 | Trenton | $1,760 | -21.5% |
| 08619 | Trenton | $2,370 | +5.7% |
| 08620 | Trenton | $2,070 | -7.7% |
| 08625 | Trenton | $2,242County rate | — |
| 08628 | Trenton | $2,310 | +3.0% |
| 08629 | Trenton | $1,820 | -18.8% |
| 08638 | Trenton | $2,250 | +0.4% |
| 08644 | Trenton | $2,242County rate | — |
| 08645 | Trenton | $2,242County rate | — |
| 08646 | Trenton | $2,242County rate | — |
| 08647 | Trenton | $2,242County rate | — |
| 08648 | Lawrence Township | $2,790 | +24.4% |
| 08650 | Trenton | $2,240 | -0.1% |
| 08666 | Trenton | $2,242County rate | — |
| 08690 | Trenton | $2,380 | +6.2% |
| 08691 | Trenton | $2,820 | +25.8% |
| 08695 | Trenton | $2,242County rate | — |
Nearby counties
Two-bedroom FMR, with how each compares to Mercer.
Burlington County
19 mi · 467,805 people
$1,860
-17%
Somerset County
21 mi · 349,846 people
$2,623
+17%
Middlesex County
22 mi · 871,290 people
$2,623
+17%
Hunterdon County
23 mi · 130,160 people
$2,623
+17%
Monmouth County
29 mi · 645,353 people
$2,283
+2%
Camden County
33 mi · 527,257 people
$1,860
-17%
Union County
34 mi · 579,290 people
$2,233
same rate
Ocean County
37 mi · 654,362 people
$2,283
+2%
Questions people ask
$2,242 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $1,561 for a studio, $1,764 for one bedroom, $2,741 for three and $3,081 for four.
Tools for this county
Fair Market Rent lookup
Any ZIP code's Small Area FMR by bedroom count
Section 8 rent calculator
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
The income a household needs for a given rent
What does a rental in Mercer actually go for?
HUD's number is one input. Search any address in Mercer for a rent estimate built from nearby comps. Free to start, no card.
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