The PHA sets a payment standard ranging from 90% to 110% of the Fair Market Rents (FMRs).

Savoy, MA 01256's Section 8 Fair Market Rent

In the year 2024, as a landlord, if you're looking to rent your property to a Section 8 tenant or another housing voucher program in the 01256 zip code area, you can consider the following rental prices based on HUD income limits.

Efficiency:The efficiency rental rates range from a low of $792 to a high of $968, with an average of $880.
One-bedroom: One-bedroom rental prices vary, with a minimum of $900, a maximum of $1,100, and an average of $1,000.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,170, peaking at a maximum of $1,430, and averaging at $1,300.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,449, a maximum of $1,771, and an average of $1,610.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $1,737 to a maximum of $2,123, with an average of $1,930.

The fair market rent mentioned already includes all utilities. If a landlord chooses not to provide utility coverage, they can subtract the utility costs from the rent to determine the adjusted rental price.

Each housing authority establishes its own rental rates, so you should check the pricing set by that specific housing authority to determine the maximum amount they can offer. It's advisable to adhere to their pricing guidelines.

HUD's Fair Market Rent guides Section 8 rates for your rental unit.

Year City, State, Zipcode HUD Fair Market Rent Bedrooms
Studio 1 Bedroom 2 Bedroom 3 Bedroom 4 Bedroom
2024 Savoy, MA 1256 Low Rent (90%) $792 $900 $1,170 $1,449 $1,737
Average Rent $880 $1,000 $1,300 $1,610 $1,930
High Rent(110%) $968 $1,100 $1,430 $1,771 $2,123
2023 Savoy, MA 1256 Low Rent (90%) $765 $864 $1,125 $1,395 $1,593
Average Rent $850 $960 $1,250 $1,550 $1,770
High Rent (110%) $935 $1,056 $1,375 $1,705 $1,947
2022 Savoy, MA 1256 Low Rent (90%) $702 $792 $1,026 $1,287 $1,431
Average Rent $780 $880 $1,140 $1,430 $1,590
High Rent(110%) $858 $968 $1,254 $1,573 $1,749
2021 Savoy, MA 1256 Low Rent (90%) $711 $720 $927 $1,161 $1,287
Average Rent $790 $800 $1,030 $1,290 $1,430
High Rent (110%) $869 $880 $1,133 $1,419 $1,573
2020 Savoy, MA 1256 Low Rent (90%) $738 $738 $873 $1,089 $1,242
Average Rent $820 $820 $970 $1,210 $1,380
High Rent(110%) $902 $902 $1,067 $1,331 $1,518
2019 Savoy, MA 1256 Low Rent (90%) $711 $720 $846 $1,062 $1,215
Average Rent $790 $800 $940 $1,180 $1,350
High Rent (110%) $869 $880 $1,034 $1,298 $1,485


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