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

Jersey City, NJ 07307'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 07307 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 $1,764 to a high of $2,156, with an average of $1,960.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,791, a maximum of $2,189, and an average of $1,990.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $2,034, peaking at a maximum of $2,486, and averaging at $2,260.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,529, a maximum of $3,091, and an average of $2,810.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,817 to a maximum of $3,443, with an average of $3,130.

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 7307 Low Rent (90%) $1,764 $1,791 $2,034 $2,529 $2,817
Average Rent $1,960 $1,990 $2,260 $2,810 $3,130
High Rent(110%) $2,156 $2,189 $2,486 $3,091 $3,443
2023 Jersey City, NJ 7307 Low Rent (90%) $1,575 $1,629 $1,863 $2,304 $2,502
Average Rent $1,750 $1,810 $2,070 $2,560 $2,780
High Rent (110%) $1,925 $1,991 $2,277 $2,816 $3,058
2022 Jersey City, NJ 7307 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 Jersey City, NJ 7307 Low Rent (90%) $1,350 $1,467 $1,701 $2,115 $2,304
Average Rent $1,500 $1,630 $1,890 $2,350 $2,560
High Rent (110%) $1,650 $1,793 $2,079 $2,585 $2,816
2020 Jersey City, NJ 7307 Low Rent (90%) $1,134 $1,260 $1,485 $1,854 $2,016
Average Rent $1,260 $1,400 $1,650 $2,060 $2,240
High Rent(110%) $1,386 $1,540 $1,815 $2,266 $2,464
2019 Jersey City, NJ 7307 Low Rent (90%) $1,035 $1,161 $1,386 $1,737 $1,872
Average Rent $1,150 $1,290 $1,540 $1,930 $2,080
High Rent (110%) $1,265 $1,419 $1,694 $2,123 $2,288


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