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

Oradell, NJ 07649'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 07649 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 $1,710, a maximum of $2,090, and an average of $1,900.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,962, peaking at a maximum of $2,398, and averaging at $2,180.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,430, a maximum of $2,970, and an average of $2,700.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $3,051 to a maximum of $3,729, with an average of $3,390.

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 Oradell, NJ 7649 Low Rent (90%) $1,449 $1,710 $1,962 $2,430 $3,051
Average Rent $1,610 $1,900 $2,180 $2,700 $3,390
High Rent(110%) $1,771 $2,090 $2,398 $2,970 $3,729
2023 Oradell, NJ 7649 Low Rent (90%) $1,359 $1,620 $1,881 $2,340 $2,934
Average Rent $1,510 $1,800 $2,090 $2,600 $3,260
High Rent (110%) $1,661 $1,980 $2,299 $2,860 $3,586
2022 Oradell, NJ 7649 Low Rent (90%) $1,206 $1,440 $1,692 $2,106 $2,619
Average Rent $1,340 $1,600 $1,880 $2,340 $2,910
High Rent(110%) $1,474 $1,760 $2,068 $2,574 $3,201
2021 Oradell, NJ 7649 Low Rent (90%) $1,170 $1,404 $1,647 $2,052 $2,538
Average Rent $1,300 $1,560 $1,830 $2,280 $2,820
High Rent (110%) $1,430 $1,716 $2,013 $2,508 $3,102
2020 Oradell, NJ 7649 Low Rent (90%) $1,035 $1,233 $1,458 $1,818 $2,232
Average Rent $1,150 $1,370 $1,620 $2,020 $2,480
High Rent(110%) $1,265 $1,507 $1,782 $2,222 $2,728
2019 Oradell, NJ 7649 Low Rent (90%) $1,107 $1,314 $1,539 $1,944 $2,349
Average Rent $1,230 $1,460 $1,710 $2,160 $2,610
High Rent (110%) $1,353 $1,606 $1,881 $2,376 $2,871


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