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

West New York, NJ 07093'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 07093 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 $1,638 to a high of $2,002, with an average of $1,820.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,665, a maximum of $2,035, and an average of $1,850.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,890, peaking at a maximum of $2,310, and averaging at $2,100.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,349, a maximum of $2,871, and an average of $2,610.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,619 to a maximum of $3,201, with an average of $2,910.

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 West New York, NJ 7093 Low Rent (90%) $1,638 $1,665 $1,890 $2,349 $2,619
Average Rent $1,820 $1,850 $2,100 $2,610 $2,910
High Rent(110%) $2,002 $2,035 $2,310 $2,871 $3,201
2023 West New York, NJ 7093 Low Rent (90%) $1,521 $1,566 $1,800 $2,223 $2,421
Average Rent $1,690 $1,740 $2,000 $2,470 $2,690
High Rent (110%) $1,859 $1,914 $2,200 $2,717 $2,959
2022 West New York, NJ 7093 Low Rent (90%) $1,422 $1,512 $1,746 $2,160 $2,367
Average Rent $1,580 $1,680 $1,940 $2,400 $2,630
High Rent(110%) $1,738 $1,848 $2,134 $2,640 $2,893
2021 West New York, NJ 7093 Low Rent (90%) $1,395 $1,521 $1,764 $2,196 $2,394
Average Rent $1,550 $1,690 $1,960 $2,440 $2,660
High Rent (110%) $1,705 $1,859 $2,156 $2,684 $2,926
2020 West New York, NJ 7093 Low Rent (90%) $1,188 $1,323 $1,557 $1,944 $2,106
Average Rent $1,320 $1,470 $1,730 $2,160 $2,340
High Rent(110%) $1,452 $1,617 $1,903 $2,376 $2,574
2019 West New York, NJ 7093 Low Rent (90%) $1,098 $1,233 $1,467 $1,836 $1,980
Average Rent $1,220 $1,370 $1,630 $2,040 $2,200
High Rent (110%) $1,342 $1,507 $1,793 $2,244 $2,420


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