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

Sterling, MA 01564'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 01564 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 $1,278 to a high of $1,562, with an average of $1,420.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,287, a maximum of $1,573, and an average of $1,430.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,656, peaking at a maximum of $2,024, and averaging at $1,840.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,998, a maximum of $2,442, and an average of $2,220.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,205 to a maximum of $2,695, with an average of $2,450.

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 Sterling, MA 1564 Low Rent (90%) $1,278 $1,287 $1,656 $1,998 $2,205
Average Rent $1,420 $1,430 $1,840 $2,220 $2,450
High Rent(110%) $1,562 $1,573 $2,024 $2,442 $2,695
2024 Sterling, MA 1564 Low Rent (90%) $1,278 $1,287 $1,656 $1,998 $2,205
Average Rent $1,420 $1,430 $1,840 $2,220 $2,450
High Rent (110%) $1,562 $1,573 $2,024 $2,442 $2,695
2023 Sterling, MA 1564 Low Rent (90%) $1,278 $1,323 $1,701 $2,070 $2,286
Average Rent $1,420 $1,470 $1,890 $2,300 $2,540
High Rent(110%) $1,562 $1,617 $2,079 $2,530 $2,794
2022 Sterling, MA 1564 Low Rent (90%) $1,161 $1,224 $1,575 $1,944 $2,133
Average Rent $1,290 $1,360 $1,750 $2,160 $2,370
High Rent (110%) $1,419 $1,496 $1,925 $2,376 $2,607
2021 Sterling, MA 1564 Low Rent (90%) $1,125 $1,197 $1,530 $1,899 $2,079
Average Rent $1,250 $1,330 $1,700 $2,110 $2,310
High Rent(110%) $1,375 $1,463 $1,870 $2,321 $2,541
2020 Sterling, MA 1564 Low Rent (90%) $1,071 $1,161 $1,476 $1,836 $1,998
Average Rent $1,190 $1,290 $1,640 $2,040 $2,220
High Rent (110%) $1,309 $1,419 $1,804 $2,244 $2,442
2019 Sterling, MA 1564 Low Rent (90%) $900 $981 $1,251 $1,566 $1,701
Average Rent $1,000 $1,090 $1,390 $1,740 $1,890
High Rent(110%) $1,100 $1,199 $1,529 $1,914 $2,079


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