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

East Rutherford, NJ 07073'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 07073 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 $1,350 to a high of $1,650, with an average of $1,500.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,584, a maximum of $1,936, and an average of $1,760.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,818, peaking at a maximum of $2,222, and averaging at $2,020.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,250, a maximum of $2,750, and an average of $2,500.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,835 to a maximum of $3,465, with an average of $3,150.

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 East Rutherford, NJ 7073 Low Rent (90%) $1,350 $1,584 $1,818 $2,250 $2,835
Average Rent $1,500 $1,760 $2,020 $2,500 $3,150
High Rent(110%) $1,650 $1,936 $2,222 $2,750 $3,465
2023 East Rutherford, NJ 7073 Low Rent (90%) $1,278 $1,530 $1,773 $2,205 $2,763
Average Rent $1,420 $1,700 $1,970 $2,450 $3,070
High Rent (110%) $1,562 $1,870 $2,167 $2,695 $3,377
2022 East Rutherford, NJ 7073 Low Rent (90%) $1,197 $1,431 $1,674 $2,079 $2,592
Average Rent $1,330 $1,590 $1,860 $2,310 $2,880
High Rent(110%) $1,463 $1,749 $2,046 $2,541 $3,168
2021 East Rutherford, NJ 7073 Low Rent (90%) $1,179 $1,413 $1,665 $2,070 $2,565
Average Rent $1,310 $1,570 $1,850 $2,300 $2,850
High Rent (110%) $1,441 $1,727 $2,035 $2,530 $3,135
2020 East Rutherford, NJ 7073 Low Rent (90%) $1,089 $1,305 $1,539 $1,917 $2,349
Average Rent $1,210 $1,450 $1,710 $2,130 $2,610
High Rent(110%) $1,331 $1,595 $1,881 $2,343 $2,871
2019 East Rutherford, NJ 7073 Low Rent (90%) $1,143 $1,359 $1,593 $2,007 $2,439
Average Rent $1,270 $1,510 $1,770 $2,230 $2,710
High Rent (110%) $1,397 $1,661 $1,947 $2,453 $2,981


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