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

Alpine, NJ 07620'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 07620 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 $1,746 to a high of $2,134, with an average of $1,940.
One-bedroom: One-bedroom rental prices vary, with a minimum of $2,052, a maximum of $2,508, and an average of $2,280.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $2,358, peaking at a maximum of $2,882, and averaging at $2,620.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,925, a maximum of $3,575, and an average of $3,250.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $3,672 to a maximum of $4,488, with an average of $4,080.

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 Alpine, NJ 7620 Low Rent (90%) $1,746 $2,052 $2,358 $2,925 $3,672
Average Rent $1,940 $2,280 $2,620 $3,250 $4,080
High Rent(110%) $2,134 $2,508 $2,882 $3,575 $4,488
2023 Alpine, NJ 7620 Low Rent (90%) $1,665 $1,989 $2,313 $2,871 $3,609
Average Rent $1,850 $2,210 $2,570 $3,190 $4,010
High Rent (110%) $2,035 $2,431 $2,827 $3,509 $4,411
2022 Alpine, NJ 7620 Low Rent (90%) $1,539 $1,836 $2,160 $2,682 $3,339
Average Rent $1,710 $2,040 $2,400 $2,980 $3,710
High Rent(110%) $1,881 $2,244 $2,640 $3,278 $4,081
2021 Alpine, NJ 7620 Low Rent (90%) $1,539 $1,845 $2,178 $2,700 $3,348
Average Rent $1,710 $2,050 $2,420 $3,000 $3,720
High Rent (110%) $1,881 $2,255 $2,662 $3,300 $4,092
2020 Alpine, NJ 7620 Low Rent (90%) $1,422 $1,701 $2,007 $2,502 $3,069
Average Rent $1,580 $1,890 $2,230 $2,780 $3,410
High Rent(110%) $1,738 $2,079 $2,453 $3,058 $3,751
2019 Alpine, NJ 7620 Low Rent (90%) $1,413 $1,629 $1,926 $2,457 $2,916
Average Rent $1,570 $1,810 $2,140 $2,730 $3,240
High Rent (110%) $1,727 $1,991 $2,354 $3,003 $3,564


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