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

Three Bridges, NJ 08887'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 08887 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 $1,395 to a high of $1,705, with an average of $1,550.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,566, a maximum of $1,914, and an average of $1,740.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,971, peaking at a maximum of $2,409, and averaging at $2,190.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,385, a maximum of $2,915, and an average of $2,650.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,628 to a maximum of $3,212, with an average of $2,920.

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 Three Bridges, NJ 8887 Low Rent (90%) $1,395 $1,566 $1,971 $2,385 $2,628
Average Rent $1,550 $1,740 $2,190 $2,650 $2,920
High Rent(110%) $1,705 $1,914 $2,409 $2,915 $3,212
2023 Three Bridges, NJ 8887 Low Rent (90%) $1,242 $1,404 $1,782 $2,169 $2,394
Average Rent $1,380 $1,560 $1,980 $2,410 $2,660
High Rent (110%) $1,518 $1,716 $2,178 $2,651 $2,926
2022 Three Bridges, NJ 8887 Low Rent (90%) $1,215 $1,386 $1,764 $2,178 $2,430
Average Rent $1,350 $1,540 $1,960 $2,420 $2,700
High Rent(110%) $1,485 $1,694 $2,156 $2,662 $2,970
2021 Three Bridges, NJ 8887 Low Rent (90%) $1,143 $1,305 $1,665 $2,079 $2,367
Average Rent $1,270 $1,450 $1,850 $2,310 $2,630
High Rent (110%) $1,397 $1,595 $2,035 $2,541 $2,893
2020 Three Bridges, NJ 8887 Low Rent (90%) $1,161 $1,341 $1,719 $2,160 $2,502
Average Rent $1,290 $1,490 $1,910 $2,400 $2,780
High Rent(110%) $1,419 $1,639 $2,101 $2,640 $3,058
2019 Three Bridges, NJ 8887 Low Rent (90%) $1,161 $1,377 $1,764 $2,232 $2,628
Average Rent $1,290 $1,530 $1,960 $2,480 $2,920
High Rent (110%) $1,419 $1,683 $2,156 $2,728 $3,212


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