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

Ridgefield, NJ 07657'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 07657 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 $1,431 to a high of $1,749, with an average of $1,590.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,683, a maximum of $2,057, and an average of $1,870.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,935, peaking at a maximum of $2,365, and averaging at $2,150.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,394, a maximum of $2,926, and an average of $2,660.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $3,015 to a maximum of $3,685, with an average of $3,350.

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 Ridgefield, NJ 7657 Low Rent (90%) $1,431 $1,683 $1,935 $2,394 $3,015
Average Rent $1,590 $1,870 $2,150 $2,660 $3,350
High Rent(110%) $1,749 $2,057 $2,365 $2,926 $3,685
2023 Ridgefield, NJ 7657 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 Ridgefield, NJ 7657 Low Rent (90%) $1,278 $1,530 $1,791 $2,232 $2,772
Average Rent $1,420 $1,700 $1,990 $2,480 $3,080
High Rent(110%) $1,562 $1,870 $2,189 $2,728 $3,388
2021 Ridgefield, NJ 7657 Low Rent (90%) $1,269 $1,521 $1,791 $2,232 $2,763
Average Rent $1,410 $1,690 $1,990 $2,480 $3,070
High Rent (110%) $1,551 $1,859 $2,189 $2,728 $3,377
2020 Ridgefield, NJ 7657 Low Rent (90%) $1,134 $1,359 $1,602 $1,998 $2,448
Average Rent $1,260 $1,510 $1,780 $2,220 $2,720
High Rent(110%) $1,386 $1,661 $1,958 $2,442 $2,992
2019 Ridgefield, NJ 7657 Low Rent (90%) $1,134 $1,350 $1,584 $1,998 $2,421
Average Rent $1,260 $1,500 $1,760 $2,220 $2,690
High Rent (110%) $1,386 $1,650 $1,936 $2,442 $2,959


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