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

New Milford, NJ 07646'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 07646 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 $1,224 to a high of $1,496, with an average of $1,360.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,440, a maximum of $1,760, and an average of $1,600.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,656, peaking at a maximum of $2,024, and averaging at $1,840.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,052, a maximum of $2,508, and an average of $2,280.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,583 to a maximum of $3,157, with an average of $2,870.

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 New Milford, NJ 7646 Low Rent (90%) $1,224 $1,440 $1,656 $2,052 $2,583
Average Rent $1,360 $1,600 $1,840 $2,280 $2,870
High Rent(110%) $1,496 $1,760 $2,024 $2,508 $3,157
2023 New Milford, NJ 7646 Low Rent (90%) $1,179 $1,404 $1,629 $2,025 $2,538
Average Rent $1,310 $1,560 $1,810 $2,250 $2,820
High Rent (110%) $1,441 $1,716 $1,991 $2,475 $3,102
2022 New Milford, NJ 7646 Low Rent (90%) $1,107 $1,323 $1,548 $1,926 $2,403
Average Rent $1,230 $1,470 $1,720 $2,140 $2,670
High Rent(110%) $1,353 $1,617 $1,892 $2,354 $2,937
2021 New Milford, NJ 7646 Low Rent (90%) $1,098 $1,314 $1,548 $1,926 $2,385
Average Rent $1,220 $1,460 $1,720 $2,140 $2,650
High Rent (110%) $1,342 $1,606 $1,892 $2,354 $2,915
2020 New Milford, NJ 7646 Low Rent (90%) $981 $1,179 $1,386 $1,728 $2,115
Average Rent $1,090 $1,310 $1,540 $1,920 $2,350
High Rent(110%) $1,199 $1,441 $1,694 $2,112 $2,585
2019 New Milford, NJ 7646 Low Rent (90%) $999 $1,179 $1,386 $1,746 $2,115
Average Rent $1,110 $1,310 $1,540 $1,940 $2,350
High Rent (110%) $1,221 $1,441 $1,694 $2,134 $2,585


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