Fair Market Rents LOCKED
by Locked Thread
This thread is locked. New replies are not allowed.
The 2007 Lowest Fair Market Value Rent in New Jersey for a 0 Bedroom (Studio) is $650 a month - Ocean City
Ask me if you want to know the 2007 Fair Market rents for bigger sized places, different areas or different counties
or even different US States.
AI Summary
12 Comments
I've been having this long-running argument with one of my clients (about 4 months now) because in Lehigh County, PA, a mortgage that one separated spouse pays on a house both previously lived in can be reimbursed to that spouse minus the fair market rental value. So I asked the client to get a realtor to prepare a FMR analysis and submit it to us. It's no big deal, right? These are just simple HUD specs.
The client says his brother in law is a realtor, and he'll get me the documentation I need to file for his divorce. Yeah, that was in September. He provided me with an actual HUD printout from the realtor without the realtor's name and without the address of the property. Now, I know that's the actual value, but could the realtor have been any more lazy? I mean, would you ever prepare a comparative market analysis or an actual appraisal with nothing more than a printout? And my client seems to disbelieve the fact that the court won't accept a printout with no other information. Each time I call him I have to convince him that I need some kind of competent value from his fabulous brother in law.
Maybe I can give him your number, even though you're super far away, and I could finally get this case filed! :)
how about a two bedroom or studio in philidelphia?
Studio - $676 (Altho the run down areas are obviously lot cheaper but than you possibly sacrifice your life. I've seen a studio in Germantown for $325... but that's Germantown. Not like it's Mt. Airy, Rittenhouse, Chesnut Hill... actually you can find a $500 studio in W. Mt. Airy, but that's like the bottom line in W. Mt. Airy.. I know 'cause I've been considering moving to Philly myself & I'm getting familiar in the searching I've done so far) so must be for a decent Studio in a decent area. And 2 BR is $923. So, basically a Studio is a waste of money in Philly. Get a 2 BR and split the rent with a flatmate, pay $461.50 each and be in a decent place probably.
good call.
A Warren County 3 Bed - $1257
That's not bad. I pay $1100 for a 2BR in H-town.
Yeh, that's pretty close to Fair market value in Warren County for 2 BR, which is $1050. These HUD statistics generally go by county and not city. Altho there are values for certain cities, but Hackettstown isn't one of them. The value in Warren County for a Studio is $802, 1 BR - $898, 4 BR - $1294.
Hackettstown is in Warren County.
Yeh I know. haha See above comments
Bergen & Passaic County 2 Bedroom Value is $1163. $1654 in fairness gets a 4 Bed unit. 3 Bed - $1436 ... Studio - $927.
how about a 2 bedroom house for rent or 2 bedroom apartment in the Paramus/Englewood area?
I'm sure the numbers will be over $1600.
How about a 3BR in Hackettstown?