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

North Reading, MA 01864'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 01864 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 $1,926 to a high of $2,354, with an average of $2,140.
One-bedroom: One-bedroom rental prices vary, with a minimum of $2,070, a maximum of $2,530, and an average of $2,300.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $2,457, peaking at a maximum of $3,003, and averaging at $2,730.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,970, a maximum of $3,630, and an average of $3,300.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $3,276 to a maximum of $4,004, with an average of $3,640.

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 North Reading, MA 1864 Low Rent (90%) $1,926 $2,070 $2,457 $2,970 $3,276
Average Rent $2,140 $2,300 $2,730 $3,300 $3,640
High Rent(110%) $2,354 $2,530 $3,003 $3,630 $4,004
2023 North Reading, MA 1864 Low Rent (90%) $1,638 $1,782 $2,133 $2,592 $2,862
Average Rent $1,820 $1,980 $2,370 $2,880 $3,180
High Rent (110%) $2,002 $2,178 $2,607 $3,168 $3,498
2022 North Reading, MA 1864 Low Rent (90%) $1,449 $1,593 $1,926 $2,385 $2,610
Average Rent $1,610 $1,770 $2,140 $2,650 $2,900
High Rent(110%) $1,771 $1,947 $2,354 $2,915 $3,190
2021 North Reading, MA 1864 Low Rent (90%) $1,449 $1,602 $1,944 $2,421 $2,637
Average Rent $1,610 $1,780 $2,160 $2,690 $2,930
High Rent (110%) $1,771 $1,958 $2,376 $2,959 $3,223
2020 North Reading, MA 1864 Low Rent (90%) $1,521 $1,683 $2,052 $2,556 $2,781
Average Rent $1,690 $1,870 $2,280 $2,840 $3,090
High Rent(110%) $1,859 $2,057 $2,508 $3,124 $3,399
2019 North Reading, MA 1864 Low Rent (90%) $1,485 $1,665 $2,025 $2,538 $2,736
Average Rent $1,650 $1,850 $2,250 $2,820 $3,040
High Rent (110%) $1,815 $2,035 $2,475 $3,102 $3,344


Discover Section 8 FMR by zip code