HUD's proposed new Fair Market Rents

Attached is a chart showing HUD's proposed new Fair Market Rents (FMR).  They could still change, but that is not likely.  (The FMR is set at the 40th percentile, just below the median rent for the County.  This means that 60 per cent of the rents in the County are higher than the FMR, and 40% are lower.)

HUD's proposed new Fair Market Rents - for a two-bedroom dwelling, the proposed FMR is $1417 per month - indicate that rents for two-bedroom apartments in Ocean County have gone up nearly 6% since last year.  Rents in Bergen and Passaic Counties are the most expensive in the state; Ocean and Monmouth Counties are right behind them. 

Proposed Fair Market Rents for New Jersey

Effective on October 1, 2011

	0 Bdrm	1 Bdrm	2 Bdrm	3 Bdrm	4 Bdrm
Atlantic	$852	$939	$1,120	$1,420	$1,593
Bergen	$1,212	$1,326	$1,515	$1,910	$2,313
Bulrington	$788	$899	$1,075	$1,315	$1,586
Camden	$788	$899	$1,075	$1,315	$1,586
Cape May	$841	$858	$1,079	$1,413	$1,456
Cumberland	$804	$807	$1,017	$1,236	$1,302
Essex	$923	$1,128	$1,289	$1,543	$1,707
Gloucester	$788	$899	$1,075	$1,315	$1,707
Hudson	$1,027	$1,085	$1,266	$1,534	$1,652
Hunterdon	$1,086	$1,125	$1,324	$1,662	$1,960
Mercer	$916	$1,054	$1,267	$1,514	$1,699
Middlesex	$1,086	$1,125	$1,324	$1,662	$1,960
Monmouth	$1,005	$1,161	$1,417	$1,846	$2,004
Morris	$923	$1,128	$1,289	$1,543	$1,707
Ocean	$1,005	$1,161	$1,417	$1,846	$2,004
Passaic	$1,212	$1,326	$1,515	$1,910	$2,313
Salem	$788	$899	$1,075	$1,315	$1,586
Somerset	$1,086	$1,125	$1,324	$1,662	$1,960
Sussex	$923	$1,128	$1,289	$1,543	$1,707
Union	$923	$1,128	$1,289	$1,543	$1,707
Warren	$849	$950	$1,111	$1,330	$1,369