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

Richmond Hill, NY 11418'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 11418 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 $2,133 to a high of $2,607, with an average of $2,370.
One-bedroom: One-bedroom rental prices vary, with a minimum of $2,187, a maximum of $2,673, and an average of $2,430.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $2,457, peaking at a maximum of $3,003, and averaging at $2,730.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $3,069, a maximum of $3,751, and an average of $3,410.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $3,303 to a maximum of $4,037, with an average of $3,670.

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 Richmond Hill, NY 11418 Low Rent (90%) $2,133 $2,187 $2,457 $3,069 $3,303
Average Rent $2,370 $2,430 $2,730 $3,410 $3,670
High Rent(110%) $2,607 $2,673 $3,003 $3,751 $4,037
2023 Richmond Hill, NY 11418 Low Rent (90%) $1,953 $1,998 $2,259 $2,835 $3,060
Average Rent $2,170 $2,220 $2,510 $3,150 $3,400
High Rent (110%) $2,387 $2,442 $2,761 $3,465 $3,740
2022 Richmond Hill, NY 11418 Low Rent (90%) $1,827 $1,863 $2,124 $2,682 $2,880
Average Rent $2,030 $2,070 $2,360 $2,980 $3,200
High Rent(110%) $2,233 $2,277 $2,596 $3,278 $3,520
2021 Richmond Hill, NY 11418 Low Rent (90%) $1,602 $1,638 $1,872 $2,367 $2,538
Average Rent $1,780 $1,820 $2,080 $2,630 $2,820
High Rent (110%) $1,958 $2,002 $2,288 $2,893 $3,102
2020 Richmond Hill, NY 11418 Low Rent (90%) $1,539 $1,584 $1,800 $2,277 $2,439
Average Rent $1,710 $1,760 $2,000 $2,530 $2,710
High Rent(110%) $1,881 $1,936 $2,200 $2,783 $2,981
2019 Richmond Hill, NY 11418 Low Rent (90%) $1,440 $1,476 $1,692 $2,151 $2,286
Average Rent $1,600 $1,640 $1,880 $2,390 $2,540
High Rent (110%) $1,760 $1,804 $2,068 $2,629 $2,794


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