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

Great Neck, NY 11020'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 11020 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 $1,773 to a high of $2,167, with an average of $1,970.
One-bedroom: One-bedroom rental prices vary, with a minimum of $2,214, a maximum of $2,706, and an average of $2,460.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $2,583, peaking at a maximum of $3,157, and averaging at $2,870.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $3,339, a maximum of $4,081, and an average of $3,710.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $3,618 to a maximum of $4,422, with an average of $4,020.

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 Great Neck, NY 11020 Low Rent (90%) $1,773 $2,214 $2,583 $3,339 $3,618
Average Rent $1,970 $2,460 $2,870 $3,710 $4,020
High Rent(110%) $2,167 $2,706 $3,157 $4,081 $4,422
2024 Great Neck, NY 11020 Low Rent (90%) $1,773 $2,214 $2,583 $3,339 $3,618
Average Rent $1,970 $2,460 $2,870 $3,710 $4,020
High Rent (110%) $2,167 $2,706 $3,157 $4,081 $4,422
2023 Great Neck, NY 11020 Low Rent (90%) $1,656 $1,935 $2,277 $2,898 $3,168
Average Rent $1,840 $2,150 $2,530 $3,220 $3,520
High Rent(110%) $2,024 $2,365 $2,783 $3,542 $3,872
2022 Great Neck, NY 11020 Low Rent (90%) $1,503 $1,782 $2,187 $2,817 $3,141
Average Rent $1,670 $1,980 $2,430 $3,130 $3,490
High Rent (110%) $1,837 $2,178 $2,673 $3,443 $3,839
2021 Great Neck, NY 11020 Low Rent (90%) $1,584 $1,980 $2,430 $3,123 $3,483
Average Rent $1,760 $2,200 $2,700 $3,470 $3,870
High Rent(110%) $1,936 $2,420 $2,970 $3,817 $4,257
2020 Great Neck, NY 11020 Low Rent (90%) $1,755 $2,196 $2,691 $3,465 $3,861
Average Rent $1,950 $2,440 $2,990 $3,850 $4,290
High Rent (110%) $2,145 $2,684 $3,289 $4,235 $4,719
2019 Great Neck, NY 11020 Low Rent (90%) $1,674 $2,088 $2,574 $3,321 $3,717
Average Rent $1,860 $2,320 $2,860 $3,690 $4,130
High Rent(110%) $2,046 $2,552 $3,146 $4,059 $4,543


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