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

Randolph, NJ 07869'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 07869 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 $1,386 to a high of $1,694, with an average of $1,540.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,602, a maximum of $1,958, and an average of $1,780.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,926, peaking at a maximum of $2,354, and averaging at $2,140.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,439, a maximum of $2,981, and an average of $2,710.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,817 to a maximum of $3,443, with an average of $3,130.

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 Randolph, NJ 7869 Low Rent (90%) $1,386 $1,602 $1,926 $2,439 $2,817
Average Rent $1,540 $1,780 $2,140 $2,710 $3,130
High Rent(110%) $1,694 $1,958 $2,354 $2,981 $3,443
2023 Randolph, NJ 7869 Low Rent (90%) $1,125 $1,332 $1,602 $2,034 $2,385
Average Rent $1,250 $1,480 $1,780 $2,260 $2,650
High Rent (110%) $1,375 $1,628 $1,958 $2,486 $2,915
2022 Randolph, NJ 7869 Low Rent (90%) $1,026 $1,224 $1,485 $1,890 $2,259
Average Rent $1,140 $1,360 $1,650 $2,100 $2,510
High Rent(110%) $1,254 $1,496 $1,815 $2,310 $2,761
2021 Randolph, NJ 7869 Low Rent (90%) $1,134 $1,359 $1,647 $2,097 $2,502
Average Rent $1,260 $1,510 $1,830 $2,330 $2,780
High Rent (110%) $1,386 $1,661 $2,013 $2,563 $3,058
2020 Randolph, NJ 7869 Low Rent (90%) $1,026 $1,206 $1,467 $1,872 $2,214
Average Rent $1,140 $1,340 $1,630 $2,080 $2,460
High Rent(110%) $1,254 $1,474 $1,793 $2,288 $2,706
2019 Randolph, NJ 7869 Low Rent (90%) $1,017 $1,161 $1,413 $1,800 $2,106
Average Rent $1,130 $1,290 $1,570 $2,000 $2,340
High Rent (110%) $1,243 $1,419 $1,727 $2,200 $2,574


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