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

Great Meadows, NJ 07838'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 07838 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 $1,323 to a high of $1,617, with an average of $1,470.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,449, a maximum of $1,771, and an average of $1,610.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,746, peaking at a maximum of $2,134, and averaging at $1,940.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,214, a maximum of $2,706, and an average of $2,460.
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 Great Meadows, NJ 7838 Low Rent (90%) $1,323 $1,449 $1,746 $2,214 $2,583
Average Rent $1,470 $1,610 $1,940 $2,460 $2,870
High Rent(110%) $1,617 $1,771 $2,134 $2,706 $3,157
2023 Great Meadows, NJ 7838 Low Rent (90%) $1,260 $1,395 $1,683 $2,088 $2,412
Average Rent $1,400 $1,550 $1,870 $2,320 $2,680
High Rent (110%) $1,540 $1,705 $2,057 $2,552 $2,948
2022 Great Meadows, NJ 7838 Low Rent (90%) $1,125 $1,260 $1,548 $1,917 $2,115
Average Rent $1,250 $1,400 $1,720 $2,130 $2,350
High Rent(110%) $1,375 $1,540 $1,892 $2,343 $2,585
2021 Great Meadows, NJ 7838 Low Rent (90%) $1,080 $1,197 $1,476 $1,836 $1,998
Average Rent $1,200 $1,330 $1,640 $2,040 $2,220
High Rent (110%) $1,320 $1,463 $1,804 $2,244 $2,442
2020 Great Meadows, NJ 7838 Low Rent (90%) $963 $1,098 $1,350 $1,683 $1,854
Average Rent $1,070 $1,220 $1,500 $1,870 $2,060
High Rent(110%) $1,177 $1,342 $1,650 $2,057 $2,266
2019 Great Meadows, NJ 7838 Low Rent (90%) $1,053 $1,206 $1,458 $1,827 $2,052
Average Rent $1,170 $1,340 $1,620 $2,030 $2,280
High Rent (110%) $1,287 $1,474 $1,782 $2,233 $2,508


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