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

Hillsborough, NJ 08844'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 08844 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 $1,728 to a high of $2,112, with an average of $1,920.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,944, a maximum of $2,376, and an average of $2,160.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $2,448, peaking at a maximum of $2,992, and averaging at $2,720.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,961, a maximum of $3,619, and an average of $3,290.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $3,258 to a maximum of $3,982, with an average of $3,620.

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 Hillsborough, NJ 8844 Low Rent (90%) $1,728 $1,944 $2,448 $2,961 $3,258
Average Rent $1,920 $2,160 $2,720 $3,290 $3,620
High Rent(110%) $2,112 $2,376 $2,992 $3,619 $3,982
2023 Hillsborough, NJ 8844 Low Rent (90%) $1,440 $1,638 $2,070 $2,520 $2,781
Average Rent $1,600 $1,820 $2,300 $2,800 $3,090
High Rent (110%) $1,760 $2,002 $2,530 $3,080 $3,399
2022 Hillsborough, NJ 8844 Low Rent (90%) $1,350 $1,539 $1,953 $2,412 $2,691
Average Rent $1,500 $1,710 $2,170 $2,680 $2,990
High Rent(110%) $1,650 $1,881 $2,387 $2,948 $3,289
2021 Hillsborough, NJ 8844 Low Rent (90%) $1,215 $1,386 $1,773 $2,214 $2,520
Average Rent $1,350 $1,540 $1,970 $2,460 $2,800
High Rent (110%) $1,485 $1,694 $2,167 $2,706 $3,080
2020 Hillsborough, NJ 8844 Low Rent (90%) $1,152 $1,332 $1,710 $2,151 $2,484
Average Rent $1,280 $1,480 $1,900 $2,390 $2,760
High Rent(110%) $1,408 $1,628 $2,090 $2,629 $3,036
2019 Hillsborough, NJ 8844 Low Rent (90%) $1,071 $1,269 $1,629 $2,061 $2,430
Average Rent $1,190 $1,410 $1,810 $2,290 $2,700
High Rent (110%) $1,309 $1,551 $1,991 $2,519 $2,970


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