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

New York City, NY 10029'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 10029 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 $1,764, a maximum of $2,156, and an average of $1,960.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,989, peaking at a maximum of $2,431, and averaging at $2,210.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,502, a maximum of $3,058, and an average of $2,780.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,691 to a maximum of $3,289, with an average of $2,990.

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 New York City, NY 10029 Low Rent (90%) $1,728 $1,764 $1,989 $2,502 $2,691
Average Rent $1,920 $1,960 $2,210 $2,780 $2,990
High Rent(110%) $2,112 $2,156 $2,431 $3,058 $3,289
2023 New York City, NY 10029 Low Rent (90%) $1,638 $1,665 $1,899 $2,394 $2,574
Average Rent $1,820 $1,850 $2,110 $2,660 $2,860
High Rent (110%) $2,002 $2,035 $2,321 $2,926 $3,146
2022 New York City, NY 10029 Low Rent (90%) $1,467 $1,494 $1,701 $2,142 $2,304
Average Rent $1,630 $1,660 $1,890 $2,380 $2,560
High Rent(110%) $1,793 $1,826 $2,079 $2,618 $2,816
2021 New York City, NY 10029 Low Rent (90%) $1,350 $1,395 $1,584 $2,007 $2,142
Average Rent $1,500 $1,550 $1,760 $2,230 $2,380
High Rent (110%) $1,650 $1,705 $1,936 $2,453 $2,618
2020 New York City, NY 10029 Low Rent (90%) $1,269 $1,296 $1,485 $1,890 $2,007
Average Rent $1,410 $1,440 $1,650 $2,100 $2,230
High Rent(110%) $1,551 $1,584 $1,815 $2,310 $2,453
2019 New York City, NY 10029 Low Rent (90%) $1,233 $1,269 $1,458 $1,854 $1,980
Average Rent $1,370 $1,410 $1,620 $2,060 $2,200
High Rent (110%) $1,507 $1,551 $1,782 $2,266 $2,420


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