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

Midland Park, NJ 07432'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 07432 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 $1,449 to a high of $1,771, with an average of $1,610.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,701, a maximum of $2,079, and an average of $1,890.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,953, peaking at a maximum of $2,387, and averaging at $2,170.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,421, a maximum of $2,959, and an average of $2,690.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $3,042 to a maximum of $3,718, with an average of $3,380.

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 Midland Park, NJ 7432 Low Rent (90%) $1,449 $1,701 $1,953 $2,421 $3,042
Average Rent $1,610 $1,890 $2,170 $2,690 $3,380
High Rent(110%) $1,771 $2,079 $2,387 $2,959 $3,718
2023 Midland Park, NJ 7432 Low Rent (90%) $1,413 $1,692 $1,962 $2,439 $3,060
Average Rent $1,570 $1,880 $2,180 $2,710 $3,400
High Rent (110%) $1,727 $2,068 $2,398 $2,981 $3,740
2022 Midland Park, NJ 7432 Low Rent (90%) $1,350 $1,611 $1,890 $2,349 $2,925
Average Rent $1,500 $1,790 $2,100 $2,610 $3,250
High Rent(110%) $1,650 $1,969 $2,310 $2,871 $3,575
2021 Midland Park, NJ 7432 Low Rent (90%) $1,323 $1,584 $1,863 $2,313 $2,871
Average Rent $1,470 $1,760 $2,070 $2,570 $3,190
High Rent (110%) $1,617 $1,936 $2,277 $2,827 $3,509
2020 Midland Park, NJ 7432 Low Rent (90%) $1,170 $1,395 $1,647 $2,052 $2,520
Average Rent $1,300 $1,550 $1,830 $2,280 $2,800
High Rent(110%) $1,430 $1,705 $2,013 $2,508 $3,080
2019 Midland Park, NJ 7432 Low Rent (90%) $1,197 $1,413 $1,665 $2,097 $2,547
Average Rent $1,330 $1,570 $1,850 $2,330 $2,830
High Rent (110%) $1,463 $1,727 $2,035 $2,563 $3,113


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