What is the Fair Market Rent for a 2-bedroom in Monmouth-Ocean, NJ HUD Metro FMR Area?

The HUD Fair Market Rent for a 2-bedroom unit in Monmouth-Ocean, NJ HUD Metro FMR Area is $2,328 per month for fiscal year 2026. The studio FMR is $1,676, 1-bedroom is $1,889, 3-bedroom is $3,043, and 4-bedroom is $3,371.

What income do you need to afford the FMR in Monmouth-Ocean, NJ HUD Metro FMR Area?

Using the standard 30%-of-income affordability rule, a household would need to earn about $93,120 per year ($7,760 per month) to afford the FY2026 2-bedroom Fair Market Rent of $2,328 in Monmouth-Ocean, NJ HUD Metro FMR Area.

FY2026 Fair Market Rents — Monmouth-Ocean, NJ HUD Metro FMR Area

The HUD-published Fair Market Rents for FY2026 in this area are:

Studio

$1,676

1BR

$1,889

2BR

$2,328

3BR

$3,043

4BR

$3,371

Hours/week at min wage

116 hrs

to afford the 2BR FMR @ $15.49/hr (NJ)

National rank

#30

of 661 U.S. metros (top 5% most expensive)

YoY change (2BR)

+14.1%

+$288 vs FY2025 · 5-yr +40.9%

Voucher payment standard

$2,095–$2,561

PHAs set HCV payment at 90–110% of the 2BR FMR

Monmouth-Ocean, NJ HUD Metro FMR Area

Metropolitan area · NJ · View full history · Income limits · LIHTC rents

FY2026 Fair Market Rents

Bedroom Size	Monthly FMR	Annual Equivalent
Efficiency (Studio)	$1,676	$20,112
1-Bedroom	$1,889	$22,668
2-Bedroom	$2,328	$27,936
3-Bedroom	$3,043	$36,516
4-Bedroom	$3,371	$40,452

Recent 2-Bedroom FMR Trend

FY2020 $1,639 → FY2026 $2,328

Fiscal Year	Studio	1BR	2BR	3BR	4BR
FY2026	$1,676	$1,889	$2,328	$3,043	$3,371
FY2025	$1,474	$1,654	$2,040	$2,717	$3,023
FY2024	$1,385	$1,546	$1,916	$2,604	$2,904
FY2023	$1,146	$1,279	$1,602	$2,193	$2,441
FY2022	$1,092	$1,230	$1,558	$2,142	$2,374
FY2021	$1,126	$1,291	$1,652	$2,277	$2,524
FY2020	$1,088	$1,270	$1,639	$2,251	$2,523

View full FMR history back to FY2000 →

FY2026 Income Limits

Area Median Income (AMI): $140,600

AMI Level	1p	2p	3p	4p	5p	6p
30% AMI (Extremely Low)	$29,550	$33,800	$38,000	$42,200	$45,600	$49,000
50% AMI (Very Low)	$49,250	$56,250	$63,300	$70,300	$75,950	$81,550
80% AMI (Low)	$76,000	$86,850	$97,700	$108,550	$117,250	$125,950

Full income limits table (all 8 household sizes) →

Affordability Snapshot

2BR Annual FMR

$27,936/yr

FMR as % of Area Median Income

19.9% of AMI

Under 30% — affordable at median income

Income Needed (30% rule, 2BR)

$93,120/yr

$7,760/mo gross income

FY2026 LIHTC Maximum Rents

Maximum gross rents for Low-Income Housing Tax Credit units, by income band. Full LIHTC details →

AMI Band	Studio	1BR	2BR	3BR	4BR
50% AMI Maximum	$1,230	$1,406	$1,581	$1,898	$2,038
60% AMI Maximum	$1,476	$1,687	$1,898	$2,277	$2,446

FY2026 HOME Program Rent Limits

Maximum rents for HOME Investment Partnerships–funded units. High HOME rents apply to most assisted units; Low HOME rents apply to the lowest-income set-aside units. Full HOME rent details →

Limit Type	Studio	1BR	2BR	3BR	4BR
High HOME Rent	$1,676	$1,889	$2,284	$2,284	$2,284
Low HOME Rent	$1,231	$1,406	$1,582	$1,757	$1,898

Compare Monmouth-Ocean, NJ HUD Metro FMR Area With Other NJ Metros

vs. Atlantic City-Hammonton, NJ MSA vs. Bergen-Passaic, NJ HUD Metro FMR Area vs. Cape May County, NJ HUD Metro FMR Area vs. Jersey City, NJ HUD Metro FMR Area vs. Middlesex-Somerset-Hunterdon, NJ HUD Metro FMR Area

Counties in This FMR Area

Monmouth County Ocean County