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

Jersey City, NJ 07303'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 07303 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 $1,791 to a high of $2,189, with an average of $1,990.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,827, a maximum of $2,233, and an average of $2,030.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $2,070, peaking at a maximum of $2,530, and averaging at $2,300.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,574, a maximum of $3,146, and an average of $2,860.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,862 to a maximum of $3,498, with an average of $3,180.

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 Jersey City, NJ 7303 Low Rent (90%) $1,791 $1,827 $2,070 $2,574 $2,862
Average Rent $1,990 $2,030 $2,300 $2,860 $3,180
High Rent(110%) $2,189 $2,233 $2,530 $3,146 $3,498
2023 Jersey City, NJ 7303 Low Rent (90%) $1,593 $1,638 $1,881 $2,322 $2,529
Average Rent $1,770 $1,820 $2,090 $2,580 $2,810
High Rent (110%) $1,947 $2,002 $2,299 $2,838 $3,091
2022 Jersey City, NJ 7303 Low Rent (90%) $1,449 $1,539 $1,773 $2,196 $2,403
Average Rent $1,610 $1,710 $1,970 $2,440 $2,670
High Rent(110%) $1,771 $1,881 $2,167 $2,684 $2,937
2021 Jersey City, NJ 7303 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 Jersey City, NJ 7303 Low Rent (90%) $1,161 $1,296 $1,521 $1,899 $2,061
Average Rent $1,290 $1,440 $1,690 $2,110 $2,290
High Rent(110%) $1,419 $1,584 $1,859 $2,321 $2,519
2019 Jersey City, NJ 7303 Low Rent (90%) $1,062 $1,188 $1,413 $1,773 $1,908
Average Rent $1,180 $1,320 $1,570 $1,970 $2,120
High Rent (110%) $1,298 $1,452 $1,727 $2,167 $2,332


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