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

Little Falls, NJ 07424'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 07424 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 $1,242 to a high of $1,518, with an average of $1,380.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,458, a maximum of $1,782, and an average of $1,620.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,674, peaking at a maximum of $2,046, and averaging at $1,860.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,070, a maximum of $2,530, and an average of $2,300.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,610 to a maximum of $3,190, with an average of $2,900.

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 Little Falls, NJ 7424 Low Rent (90%) $1,242 $1,458 $1,674 $2,070 $2,610
Average Rent $1,380 $1,620 $1,860 $2,300 $2,900
High Rent(110%) $1,518 $1,782 $2,046 $2,530 $3,190
2024 Little Falls, NJ 7424 Low Rent (90%) $1,242 $1,458 $1,674 $2,070 $2,610
Average Rent $1,380 $1,620 $1,860 $2,300 $2,900
High Rent (110%) $1,518 $1,782 $2,046 $2,530 $3,190
2023 Little Falls, NJ 7424 Low Rent (90%) $1,197 $1,431 $1,656 $2,052 $2,583
Average Rent $1,330 $1,590 $1,840 $2,280 $2,870
High Rent(110%) $1,463 $1,749 $2,024 $2,508 $3,157
2022 Little Falls, NJ 7424 Low Rent (90%) $1,125 $1,350 $1,584 $1,971 $2,457
Average Rent $1,250 $1,500 $1,760 $2,190 $2,730
High Rent (110%) $1,375 $1,650 $1,936 $2,409 $3,003
2021 Little Falls, NJ 7424 Low Rent (90%) $1,134 $1,359 $1,602 $1,989 $2,466
Average Rent $1,260 $1,510 $1,780 $2,210 $2,740
High Rent(110%) $1,386 $1,661 $1,958 $2,431 $3,014
2020 Little Falls, NJ 7424 Low Rent (90%) $1,017 $1,224 $1,440 $1,791 $2,205
Average Rent $1,130 $1,360 $1,600 $1,990 $2,450
High Rent (110%) $1,243 $1,496 $1,760 $2,189 $2,695
2019 Little Falls, NJ 7424 Low Rent (90%) $1,044 $1,242 $1,458 $1,836 $2,232
Average Rent $1,160 $1,380 $1,620 $2,040 $2,480
High Rent(110%) $1,276 $1,518 $1,782 $2,244 $2,728


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