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

Princeton, NJ 08542'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 08542 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 $1,530 to a high of $1,870, with an average of $1,700.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,755, a maximum of $2,145, and an average of $1,950.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $2,259, peaking at a maximum of $2,761, and averaging at $2,510.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,727, a maximum of $3,333, and an average of $3,030.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $3,006 to a maximum of $3,674, with an average of $3,340.

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 Princeton, NJ 8542 Low Rent (90%) $1,530 $1,755 $2,259 $2,727 $3,006
Average Rent $1,700 $1,950 $2,510 $3,030 $3,340
High Rent(110%) $1,870 $2,145 $2,761 $3,333 $3,674
2023 Princeton, NJ 8542 Low Rent (90%) $1,242 $1,422 $1,863 $2,268 $2,502
Average Rent $1,380 $1,580 $2,070 $2,520 $2,780
High Rent (110%) $1,518 $1,738 $2,277 $2,772 $3,058
2022 Princeton, NJ 8542 Low Rent (90%) $1,215 $1,386 $1,827 $2,259 $2,475
Average Rent $1,350 $1,540 $2,030 $2,510 $2,750
High Rent(110%) $1,485 $1,694 $2,233 $2,761 $3,025
2021 Princeton, NJ 8542 Low Rent (90%) $1,188 $1,368 $1,800 $2,241 $2,466
Average Rent $1,320 $1,520 $2,000 $2,490 $2,740
High Rent (110%) $1,452 $1,672 $2,200 $2,739 $3,014
2020 Princeton, NJ 8542 Low Rent (90%) $1,098 $1,314 $1,692 $2,106 $2,385
Average Rent $1,220 $1,460 $1,880 $2,340 $2,650
High Rent(110%) $1,342 $1,606 $2,068 $2,574 $2,915
2019 Princeton, NJ 8542 Low Rent (90%) $1,152 $1,386 $1,746 $2,241 $2,556
Average Rent $1,280 $1,540 $1,940 $2,490 $2,840
High Rent (110%) $1,408 $1,694 $2,134 $2,739 $3,124


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