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

Port Reading, NJ 07064'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 07064 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 $1,368 to a high of $1,672, with an average of $1,520.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,539, a maximum of $1,881, and an average of $1,710.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,935, peaking at a maximum of $2,365, and averaging at $2,150.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,340, a maximum of $2,860, and an average of $2,600.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,574 to a maximum of $3,146, with an average of $2,860.

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 Port Reading, NJ 7064 Low Rent (90%) $1,368 $1,539 $1,935 $2,340 $2,574
Average Rent $1,520 $1,710 $2,150 $2,600 $2,860
High Rent(110%) $1,672 $1,881 $2,365 $2,860 $3,146
2023 Port Reading, NJ 7064 Low Rent (90%) $1,215 $1,377 $1,746 $2,124 $2,349
Average Rent $1,350 $1,530 $1,940 $2,360 $2,610
High Rent (110%) $1,485 $1,683 $2,134 $2,596 $2,871
2022 Port Reading, NJ 7064 Low Rent (90%) $1,161 $1,323 $1,683 $2,079 $2,313
Average Rent $1,290 $1,470 $1,870 $2,310 $2,570
High Rent(110%) $1,419 $1,617 $2,057 $2,541 $2,827
2021 Port Reading, NJ 7064 Low Rent (90%) $1,143 $1,305 $1,665 $2,079 $2,367
Average Rent $1,270 $1,450 $1,850 $2,310 $2,630
High Rent (110%) $1,397 $1,595 $2,035 $2,541 $2,893
2020 Port Reading, NJ 7064 Low Rent (90%) $1,125 $1,305 $1,674 $2,106 $2,430
Average Rent $1,250 $1,450 $1,860 $2,340 $2,700
High Rent(110%) $1,375 $1,595 $2,046 $2,574 $2,970
2019 Port Reading, NJ 7064 Low Rent (90%) $1,080 $1,278 $1,638 $2,079 $2,439
Average Rent $1,200 $1,420 $1,820 $2,310 $2,710
High Rent (110%) $1,320 $1,562 $2,002 $2,541 $2,981


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