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

Lawrence, MA 01842'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 01842 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 $1,224 to a high of $1,496, with an average of $1,360.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,395, a maximum of $1,705, and an average of $1,550.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,800, peaking at a maximum of $2,200, and averaging at $2,000.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,187, a maximum of $2,673, and an average of $2,430.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,394 to a maximum of $2,926, with an average of $2,660.

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 Lawrence, MA 1842 Low Rent (90%) $1,224 $1,395 $1,800 $2,187 $2,394
Average Rent $1,360 $1,550 $2,000 $2,430 $2,660
High Rent(110%) $1,496 $1,705 $2,200 $2,673 $2,926
2023 Lawrence, MA 1842 Low Rent (90%) $1,116 $1,287 $1,665 $2,025 $2,241
Average Rent $1,240 $1,430 $1,850 $2,250 $2,490
High Rent (110%) $1,364 $1,573 $2,035 $2,475 $2,739
2022 Lawrence, MA 1842 Low Rent (90%) $972 $1,134 $1,458 $1,800 $1,980
Average Rent $1,080 $1,260 $1,620 $2,000 $2,200
High Rent(110%) $1,188 $1,386 $1,782 $2,200 $2,420
2021 Lawrence, MA 1842 Low Rent (90%) $909 $1,062 $1,359 $1,692 $1,845
Average Rent $1,010 $1,180 $1,510 $1,880 $2,050
High Rent (110%) $1,111 $1,298 $1,661 $2,068 $2,255
2020 Lawrence, MA 1842 Low Rent (90%) $891 $1,026 $1,323 $1,647 $1,791
Average Rent $990 $1,140 $1,470 $1,830 $1,990
High Rent(110%) $1,089 $1,254 $1,617 $2,013 $2,189
2019 Lawrence, MA 1842 Low Rent (90%) $846 $972 $1,251 $1,566 $1,692
Average Rent $940 $1,080 $1,390 $1,740 $1,880
High Rent (110%) $1,034 $1,188 $1,529 $1,914 $2,068


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