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

New Gretna, NJ 08224'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 08224 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 $1,116 to a high of $1,364, with an average of $1,240.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,242, a maximum of $1,518, and an average of $1,380.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,485, peaking at a maximum of $1,815, and averaging at $1,650.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,800, a maximum of $2,200, and an average of $2,000.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,070 to a maximum of $2,530, with an average of $2,300.

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 New Gretna, NJ 8224 Low Rent (90%) $1,116 $1,242 $1,485 $1,800 $2,070
Average Rent $1,240 $1,380 $1,650 $2,000 $2,300
High Rent(110%) $1,364 $1,518 $1,815 $2,200 $2,530
2023 New Gretna, NJ 8224 Low Rent (90%) $918 $1,035 $1,251 $1,566 $1,773
Average Rent $1,020 $1,150 $1,390 $1,740 $1,970
High Rent (110%) $1,122 $1,265 $1,529 $1,914 $2,167
2022 New Gretna, NJ 8224 Low Rent (90%) $864 $999 $1,269 $1,737 $1,944
Average Rent $960 $1,110 $1,410 $1,930 $2,160
High Rent(110%) $1,056 $1,221 $1,551 $2,123 $2,376
2021 New Gretna, NJ 8224 Low Rent (90%) $954 $1,107 $1,404 $1,926 $2,151
Average Rent $1,060 $1,230 $1,560 $2,140 $2,390
High Rent (110%) $1,166 $1,353 $1,716 $2,354 $2,629
2020 New Gretna, NJ 8224 Low Rent (90%) $918 $1,071 $1,377 $1,863 $2,106
Average Rent $1,020 $1,190 $1,530 $2,070 $2,340
High Rent(110%) $1,122 $1,309 $1,683 $2,277 $2,574
2019 New Gretna, NJ 8224 Low Rent (90%) $882 $1,044 $1,260 $1,575 $1,800
Average Rent $980 $1,160 $1,400 $1,750 $2,000
High Rent (110%) $1,078 $1,276 $1,540 $1,925 $2,200


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