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

Bound Brook, NJ 08805'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 08805 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 $1,377 to a high of $1,683, with an average of $1,530.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,548, a maximum of $1,892, and an average of $1,720.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,953, peaking at a maximum of $2,387, and averaging at $2,170.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,367, a maximum of $2,893, and an average of $2,630.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,601 to a maximum of $3,179, with an average of $2,890.

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 Bound Brook, NJ 8805 Low Rent (90%) $1,377 $1,548 $1,953 $2,367 $2,601
Average Rent $1,530 $1,720 $2,170 $2,630 $2,890
High Rent(110%) $1,683 $1,892 $2,387 $2,893 $3,179
2023 Bound Brook, NJ 8805 Low Rent (90%) $1,152 $1,305 $1,647 $2,007 $2,214
Average Rent $1,280 $1,450 $1,830 $2,230 $2,460
High Rent (110%) $1,408 $1,595 $2,013 $2,453 $2,706
2022 Bound Brook, NJ 8805 Low Rent (90%) $1,071 $1,224 $1,557 $1,926 $2,142
Average Rent $1,190 $1,360 $1,730 $2,140 $2,380
High Rent(110%) $1,309 $1,496 $1,903 $2,354 $2,618
2021 Bound Brook, NJ 8805 Low Rent (90%) $981 $1,125 $1,440 $1,809 $2,088
Average Rent $1,090 $1,250 $1,600 $2,010 $2,320
High Rent (110%) $1,199 $1,375 $1,760 $2,211 $2,552
2020 Bound Brook, NJ 8805 Low Rent (90%) $954 $1,107 $1,422 $1,800 $2,106
Average Rent $1,060 $1,230 $1,580 $2,000 $2,340
High Rent(110%) $1,166 $1,353 $1,738 $2,200 $2,574
2019 Bound Brook, NJ 8805 Low Rent (90%) $909 $1,080 $1,386 $1,755 $2,061
Average Rent $1,010 $1,200 $1,540 $1,950 $2,290
High Rent (110%) $1,111 $1,320 $1,694 $2,145 $2,519


Discover Section 8 FMR by zip code