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

Allenwood, NJ 08720'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 08720 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 $1,224 to a high of $1,496, with an average of $1,360.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,368, a maximum of $1,672, and an average of $1,520.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,692, peaking at a maximum of $2,068, and averaging at $1,880.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,304, a maximum of $2,816, and an average of $2,560.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,565 to a maximum of $3,135, with an average of $2,850.

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 Allenwood, NJ 8720 Low Rent (90%) $1,224 $1,368 $1,692 $2,304 $2,565
Average Rent $1,360 $1,520 $1,880 $2,560 $2,850
High Rent(110%) $1,496 $1,672 $2,068 $2,816 $3,135
2023 Allenwood, NJ 8720 Low Rent (90%) $1,008 $1,125 $1,413 $1,935 $2,151
Average Rent $1,120 $1,250 $1,570 $2,150 $2,390
High Rent (110%) $1,232 $1,375 $1,727 $2,365 $2,629
2022 Allenwood, NJ 8720 Low Rent (90%) $954 $1,080 $1,368 $1,881 $2,079
Average Rent $1,060 $1,200 $1,520 $2,090 $2,310
High Rent(110%) $1,166 $1,320 $1,672 $2,299 $2,541
2021 Allenwood, NJ 8720 Low Rent (90%) $999 $1,143 $1,467 $2,016 $2,232
Average Rent $1,110 $1,270 $1,630 $2,240 $2,480
High Rent (110%) $1,221 $1,397 $1,793 $2,464 $2,728
2020 Allenwood, NJ 8720 Low Rent (90%) $972 $1,134 $1,467 $2,016 $2,259
Average Rent $1,080 $1,260 $1,630 $2,240 $2,510
High Rent(110%) $1,188 $1,386 $1,793 $2,464 $2,761
2019 Allenwood, NJ 8720 Low Rent (90%) $837 $999 $1,296 $1,764 $2,007
Average Rent $930 $1,110 $1,440 $1,960 $2,230
High Rent (110%) $1,023 $1,221 $1,584 $2,156 $2,453


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