HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Morris County, New Jersey (FY 2027)
A two-bedroom in Morris County carries a FY 2027 Fair Market Rent of $2,233 a month, effective October 1, 2026 through September 30, 2027. Everything Section 8 pays in Morris keys off that figure.
Two-bedroom FMR
$2,233
+1.3% from FY 2026
Payment standard
$2,010–$2,456
90% to 110% of the FMR, two-bedroom
Income to afford
$89,320
a year, with rent at 30% of income
Rank in New Jersey
11th 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 | $1,637 | $1,473–$1,801 | $65,480 | $31.48/hr | +1.6% |
| 1 bedroom | $1,850 | $1,665–$2,035 | $74,000 | $35.58/hr | +1.5% |
| 2 bedroom | $2,233 | $2,010–$2,456 | $89,320 | $42.94/hr | +1.3% |
| 3 bedroom | $2,785 | $2,507–$3,064 | $111,400 | $53.56/hr | +0.9% |
| 4 bedroom | $3,188 | $2,869–$3,507 | $127,520 | $61.31/hr | +1.6% |
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 | $3,666 | $3,299–$4,033 |
| 6 bedroom Estimate | $4,144 | $3,730–$4,558 |
| 7 bedroom Estimate | $4,623 | $4,161–$5,085 |
| 8 bedroom Estimate | $5,101 | $4,591–$5,611 |
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 Morris actually rent for?
Search any address in Morris 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 Morris somewhere between $2,010 and $2,456. 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.
$2,233 a month is affordable, by HUD's 30% rule, on an income of roughly $89,320 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%$2,010 | Voucher pays at 100%$2,233 | Voucher pays at 110%$2,456 |
|---|---|---|---|---|
| $2,500 | $750 | $1,260 | $1,483 | $1,706 |
| $4,000 | $1,200 | $810 | $1,033 | $1,256 |
Rate history
The two-bedroom rate went up 1% from FY 2026 ($2,205) to FY 2027 ($2,233). Since FY 2020 it's up 51% in total, about 6.0% 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 | $1,034 | $1,218 | $1,483 | $1,891 | $2,236 | — |
| FY 2021 | $1,129 | $1,358 | $1,643 | $2,096 | $2,498 | +10.8% |
| FY 2022 | $1,017 | $1,223 | $1,479 | $1,887 | $2,249 | -10.0% |
| FY 2023 | $1,129 | $1,338 | $1,606 | $2,038 | $2,394 | +8.6% |
| FY 2024 | $1,379 | $1,590 | $1,916 | $2,424 | $2,800 | +19.3% |
| FY 2025 | $1,551 | $1,768 | $2,140 | $2,695 | $3,065 | +11.7% |
| FY 2026 | $1,612 | $1,822 | $2,205 | $2,761 | $3,137 | +3.0% |
| FY 2027In effect | $1,637 | $1,850 | $2,233 | $2,785 | $3,188 | +1.3% |
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 Morris, that runs from $1,637 for a studio up to $3,188 for four bedrooms, all five rates in the table above.
This is a metro rate. The county doesn't get one of its own. HUD lumps Morris in with 3 other counties in the Newark metro, Essex County, Union County, Sussex County among them, and every one of them gets $2,233 for a two-bedroom. Where you are inside the metro doesn't change the county number. It does change the ZIP number, covered below.
Among New Jersey's 21 counties, Morris ranks 11th for two-bedroom FMR. That's within a couple percent of the state median of $2,233 and about 110% above the national median county at $1,063. About 514,528 people live here, 10th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,990 in 07034 (Lake Hiawatha) and $3,350 in 07927 (Cedar Knolls), with the 54 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 |
|---|---|---|---|
| 07005 | Boonton | $2,460 | +10.2% |
| 07034 | Lake Hiawatha | $1,990 | -10.9% |
| 07035 | Lincoln Park | $2,400 | +7.5% |
| 07045 | Montville | $2,770 | +24.0% |
| 07046 | Mountain Lakes | $2,480 | +11.1% |
| 07054 | Parsippany | $2,640 | +18.2% |
| 07058 | Pine Brook | $3,160 | +41.5% |
| 07082 | Towaco | $2,670 | +19.6% |
| 07405 | Butler | $2,230 | -0.1% |
| 07440 | Pequannock | $2,640 | +18.2% |
| 07444 | Pompton Plains | $2,860 | +28.1% |
| 07457 | Riverdale | $3,280 | +46.9% |
| 07801 | Dover | $2,430 | +8.8% |
| 07802 | Dover | $2,550 | +14.2% |
| 07803 | Mine Hill | $2,460 | +10.2% |
| 07806 | Picatinny Arsenal | $2,550 | +14.2% |
| 07828 | Budd Lake | $2,050 | -8.2% |
| 07834 | Denville | $2,440 | +9.3% |
| 07836 | Flanders | $2,550 | +14.2% |
| 07842 | Hibernia | $2,460 | +10.2% |
| 07845 | Ironia | $2,550 | +14.2% |
| 07847 | Kenvil | $2,880 | +29.0% |
| 07849 | Lake Hopatcong | $2,210 | -1.0% |
| 07850 | Landing | $2,290 | +2.6% |
| 07852 | Ledgewood | $2,560 | +14.6% |
| 07853 | Long Valley | $2,310 | +3.4% |
| 07856 | Mount Arlington | $3,170 | +42.0% |
| 07857 | Netcong | $1,990 | -10.9% |
| 07866 | Rockaway | $2,390 | +7.0% |
| 07869 | Randolph | $2,410 | +7.9% |
| 07870 | Schooleys Mountain | $2,200 | -1.5% |
| 07876 | Succasunna | $3,120 | +39.7% |
| 07878 | Mount Tabor | $3,250 | +45.5% |
| 07885 | Wharton | $2,550 | +14.2% |
| 07926 | Brookside | $3,340 | +49.6% |
| 07927 | Cedar Knolls | $3,350 | +50.0% |
| 07928 | Chatham | $3,250 | +45.5% |
| 07930 | Chester | $2,570 | +15.1% |
| 07932 | Florham Park | $3,350 | +50.0% |
| 07933 | Gillette | $2,610 | +16.9% |
Counties sharing the Newark metro rate
HUD sets one rate for the whole metro, so every county here carries the same $2,233 two-bedroom figure as Morris.
Nearby counties
Two-bedroom FMR, with how each compares to Morris.
Essex County
16 mi · 863,002 people
$2,233
same rate
Passaic County
17 mi · 521,012 people
$2,282
+2%
Union County
17 mi · 579,290 people
$2,233
same rate
Somerset County
20 mi · 349,846 people
$2,623
+17%
Sussex County
20 mi · 145,807 people
$2,233
same rate
Warren County
24 mi · 110,849 people
$2,021
-9%
Bergen County
25 mi · 962,316 people
$2,282
+2%
Hudson County
25 mi · 718,323 people
$2,792
+25%
Questions people ask
$2,233 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $1,637 for a studio, $1,850 for one bedroom, $2,785 for three and $3,188 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 Morris actually go for?
HUD's number is one input. Search any address in Morris for a rent estimate built from nearby comps. Free to start, no card.
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