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

Chelsea, MA 02150'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 02150 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 $1,683 to a high of $2,057, with an average of $1,870.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,809, a maximum of $2,211, and an average of $2,010.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $2,151, peaking at a maximum of $2,629, and averaging at $2,390.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,601, a maximum of $3,179, and an average of $2,890.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,871 to a maximum of $3,509, with an average of $3,190.

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 Chelsea, MA 2150 Low Rent (90%) $1,683 $1,809 $2,151 $2,601 $2,871
Average Rent $1,870 $2,010 $2,390 $2,890 $3,190
High Rent(110%) $2,057 $2,211 $2,629 $3,179 $3,509
2023 Chelsea, MA 2150 Low Rent (90%) $1,602 $1,746 $2,088 $2,538 $2,808
Average Rent $1,780 $1,940 $2,320 $2,820 $3,120
High Rent (110%) $1,958 $2,134 $2,552 $3,102 $3,432
2022 Chelsea, MA 2150 Low Rent (90%) $1,440 $1,584 $1,917 $2,367 $2,601
Average Rent $1,600 $1,760 $2,130 $2,630 $2,890
High Rent(110%) $1,760 $1,936 $2,343 $2,893 $3,179
2021 Chelsea, MA 2150 Low Rent (90%) $1,431 $1,575 $1,917 $2,385 $2,601
Average Rent $1,590 $1,750 $2,130 $2,650 $2,890
High Rent (110%) $1,749 $1,925 $2,343 $2,915 $3,179
2020 Chelsea, MA 2150 Low Rent (90%) $1,386 $1,539 $1,872 $2,331 $2,538
Average Rent $1,540 $1,710 $2,080 $2,590 $2,820
High Rent(110%) $1,694 $1,881 $2,288 $2,849 $3,102
2019 Chelsea, MA 2150 Low Rent (90%) $1,296 $1,458 $1,773 $2,223 $2,394
Average Rent $1,440 $1,620 $1,970 $2,470 $2,660
High Rent (110%) $1,584 $1,782 $2,167 $2,717 $2,926


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