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

Ithaca, NY 14853'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 14853 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 $1,251 to a high of $1,529, with an average of $1,390.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,368, a maximum of $1,672, and an average of $1,520.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,584, peaking at a maximum of $1,936, and averaging at $1,760.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,953, a maximum of $2,387, and an average of $2,170.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,124 to a maximum of $2,596, with an average of $2,360.

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 Ithaca, NY 14853 Low Rent (90%) $1,251 $1,368 $1,584 $1,953 $2,124
Average Rent $1,390 $1,520 $1,760 $2,170 $2,360
High Rent(110%) $1,529 $1,672 $1,936 $2,387 $2,596
2023 Ithaca, NY 14853 Low Rent (90%) $1,071 $1,152 $1,341 $1,701 $1,800
Average Rent $1,190 $1,280 $1,490 $1,890 $2,000
High Rent (110%) $1,309 $1,408 $1,639 $2,079 $2,200
2022 Ithaca, NY 14853 Low Rent (90%) $999 $1,071 $1,296 $1,656 $1,755
Average Rent $1,110 $1,190 $1,440 $1,840 $1,950
High Rent(110%) $1,221 $1,309 $1,584 $2,024 $2,145
2021 Ithaca, NY 14853 Low Rent (90%) $936 $1,008 $1,215 $1,548 $1,737
Average Rent $1,040 $1,120 $1,350 $1,720 $1,930
High Rent (110%) $1,144 $1,232 $1,485 $1,892 $2,123
2020 Ithaca, NY 14853 Low Rent (90%) $873 $927 $1,116 $1,422 $1,665
Average Rent $970 $1,030 $1,240 $1,580 $1,850
High Rent(110%) $1,067 $1,133 $1,364 $1,738 $2,035
2019 Ithaca, NY 14853 Low Rent (90%) $828 $846 $1,026 $1,305 $1,566
Average Rent $920 $940 $1,140 $1,450 $1,740
High Rent (110%) $1,012 $1,034 $1,254 $1,595 $1,914


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