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

Wood River Junction, RI 02894'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 02894 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 $1,341, a maximum of $1,639, and an average of $1,490.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,620, peaking at a maximum of $1,980, and averaging at $1,800.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,007, a maximum of $2,453, and an average of $2,230.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,565 to a maximum of $3,135, with an average of $2,850.

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 Wood River Junction, RI 2894 Low Rent (90%) $1,278 $1,341 $1,620 $2,007 $2,565
Average Rent $1,420 $1,490 $1,800 $2,230 $2,850
High Rent(110%) $1,562 $1,639 $1,980 $2,453 $3,135
2024 Wood River Junction, RI 2894 Low Rent (90%) $1,278 $1,341 $1,620 $2,007 $2,565
Average Rent $1,420 $1,490 $1,800 $2,230 $2,850
High Rent (110%) $1,562 $1,639 $1,980 $2,453 $3,135
2023 Wood River Junction, RI 2894 Low Rent (90%) $1,143 $1,206 $1,449 $1,818 $2,304
Average Rent $1,270 $1,340 $1,610 $2,020 $2,560
High Rent(110%) $1,397 $1,474 $1,771 $2,222 $2,816
2022 Wood River Junction, RI 2894 Low Rent (90%) $1,035 $1,107 $1,332 $1,719 $2,133
Average Rent $1,150 $1,230 $1,480 $1,910 $2,370
High Rent (110%) $1,265 $1,353 $1,628 $2,101 $2,607
2021 Wood River Junction, RI 2894 Low Rent (90%) $963 $1,026 $1,269 $1,665 $1,935
Average Rent $1,070 $1,140 $1,410 $1,850 $2,150
High Rent(110%) $1,177 $1,254 $1,551 $2,035 $2,365
2020 Wood River Junction, RI 2894 Low Rent (90%) $810 $909 $1,098 $1,386 $1,620
Average Rent $900 $1,010 $1,220 $1,540 $1,800
High Rent (110%) $990 $1,111 $1,342 $1,694 $1,980
2019 Wood River Junction, RI 2894 Low Rent (90%) $810 $909 $1,098 $1,386 $1,611
Average Rent $900 $1,010 $1,220 $1,540 $1,790
High Rent(110%) $990 $1,111 $1,342 $1,694 $1,969


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