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

Hopatcong, NJ 07843'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 07843 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 $1,341 to a high of $1,639, with an average of $1,490.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,548, a maximum of $1,892, and an average of $1,720.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,863, peaking at a maximum of $2,277, and averaging at $2,070.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,358, a maximum of $2,882, and an average of $2,620.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,718 to a maximum of $3,322, with an average of $3,020.

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 Hopatcong, NJ 7843 Low Rent (90%) $1,341 $1,548 $1,863 $2,358 $2,718
Average Rent $1,490 $1,720 $2,070 $2,620 $3,020
High Rent(110%) $1,639 $1,892 $2,277 $2,882 $3,322
2023 Hopatcong, NJ 7843 Low Rent (90%) $1,107 $1,314 $1,575 $1,998 $2,349
Average Rent $1,230 $1,460 $1,750 $2,220 $2,610
High Rent (110%) $1,353 $1,606 $1,925 $2,442 $2,871
2022 Hopatcong, NJ 7843 Low Rent (90%) $1,017 $1,224 $1,467 $1,872 $2,232
Average Rent $1,130 $1,360 $1,630 $2,080 $2,480
High Rent(110%) $1,243 $1,496 $1,793 $2,288 $2,728
2021 Hopatcong, NJ 7843 Low Rent (90%) $1,116 $1,350 $1,629 $2,079 $2,475
Average Rent $1,240 $1,500 $1,810 $2,310 $2,750
High Rent (110%) $1,364 $1,650 $1,991 $2,541 $3,025
2020 Hopatcong, NJ 7843 Low Rent (90%) $1,053 $1,233 $1,503 $1,917 $2,268
Average Rent $1,170 $1,370 $1,670 $2,130 $2,520
High Rent(110%) $1,287 $1,507 $1,837 $2,343 $2,772
2019 Hopatcong, NJ 7843 Low Rent (90%) $1,170 $1,332 $1,620 $2,070 $2,421
Average Rent $1,300 $1,480 $1,800 $2,300 $2,690
High Rent (110%) $1,430 $1,628 $1,980 $2,530 $2,959


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