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

Princeton Junction, NJ 08550'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 08550 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 $1,827 to a high of $2,233, with an average of $2,030.
One-bedroom: One-bedroom rental prices vary, with a minimum of $2,097, a maximum of $2,563, and an average of $2,330.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $2,700, peaking at a maximum of $3,300, and averaging at $3,000.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $3,267, a maximum of $3,993, and an average of $3,630.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $3,600 to a maximum of $4,400, with an average of $4,000.

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 Junction, NJ 8550 Low Rent (90%) $1,827 $2,097 $2,700 $3,267 $3,600
Average Rent $2,030 $2,330 $3,000 $3,630 $4,000
High Rent(110%) $2,233 $2,563 $3,300 $3,993 $4,400
2023 Princeton Junction, NJ 8550 Low Rent (90%) $1,566 $1,782 $2,340 $2,844 $3,141
Average Rent $1,740 $1,980 $2,600 $3,160 $3,490
High Rent (110%) $1,914 $2,178 $2,860 $3,476 $3,839
2022 Princeton Junction, NJ 8550 Low Rent (90%) $1,449 $1,656 $2,178 $2,691 $2,952
Average Rent $1,610 $1,840 $2,420 $2,990 $3,280
High Rent(110%) $1,771 $2,024 $2,662 $3,289 $3,608
2021 Princeton Junction, NJ 8550 Low Rent (90%) $1,368 $1,584 $2,079 $2,583 $2,844
Average Rent $1,520 $1,760 $2,310 $2,870 $3,160
High Rent (110%) $1,672 $1,936 $2,541 $3,157 $3,476
2020 Princeton Junction, NJ 8550 Low Rent (90%) $1,278 $1,521 $1,962 $2,448 $2,772
Average Rent $1,420 $1,690 $2,180 $2,720 $3,080
High Rent(110%) $1,562 $1,859 $2,398 $2,992 $3,388
2019 Princeton Junction, NJ 8550 Low Rent (90%) $1,206 $1,458 $1,836 $2,358 $2,691
Average Rent $1,340 $1,620 $2,040 $2,620 $2,990
High Rent (110%) $1,474 $1,782 $2,244 $2,882 $3,289


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