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

Cherry Plain, NY 12040'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 12040 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 $792 to a high of $968, with an average of $880.
One-bedroom: One-bedroom rental prices vary, with a minimum of $882, a maximum of $1,078, and an average of $980.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,071, peaking at a maximum of $1,309, and averaging at $1,190.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,296, a maximum of $1,584, and an average of $1,440.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $1,431 to a maximum of $1,749, with an average of $1,590.

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 Cherry Plain, NY 12040 Low Rent (90%) $792 $882 $1,071 $1,296 $1,431
Average Rent $880 $980 $1,190 $1,440 $1,590
High Rent(110%) $968 $1,078 $1,309 $1,584 $1,749
2023 Cherry Plain, NY 12040 Low Rent (90%) $729 $810 $981 $1,215 $1,332
Average Rent $810 $900 $1,090 $1,350 $1,480
High Rent (110%) $891 $990 $1,199 $1,485 $1,628
2022 Cherry Plain, NY 12040 Low Rent (90%) $792 $882 $1,080 $1,332 $1,458
Average Rent $880 $980 $1,200 $1,480 $1,620
High Rent(110%) $968 $1,078 $1,320 $1,628 $1,782
2021 Cherry Plain, NY 12040 Low Rent (90%) $693 $783 $954 $1,188 $1,296
Average Rent $770 $870 $1,060 $1,320 $1,440
High Rent (110%) $847 $957 $1,166 $1,452 $1,584
2020 Cherry Plain, NY 12040 Low Rent (90%) $639 $738 $909 $1,134 $1,224
Average Rent $710 $820 $1,010 $1,260 $1,360
High Rent(110%) $781 $902 $1,111 $1,386 $1,496
2019 Cherry Plain, NY 12040 Low Rent (90%) $666 $792 $972 $1,215 $1,314
Average Rent $740 $880 $1,080 $1,350 $1,460
High Rent (110%) $814 $968 $1,188 $1,485 $1,606


Discover Section 8 FMR by zip code