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

Fairmount City, PA 16224'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 16224 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 $594 to a high of $726, with an average of $660.
One-bedroom: One-bedroom rental prices vary, with a minimum of $666, a maximum of $814, and an average of $740.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $873, peaking at a maximum of $1,067, and averaging at $970.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,089, a maximum of $1,331, and an average of $1,210.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $1,341 to a maximum of $1,639, with an average of $1,490.

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 Fairmount City, PA 16224 Low Rent (90%) $594 $666 $873 $1,089 $1,341
Average Rent $660 $740 $970 $1,210 $1,490
High Rent(110%) $726 $814 $1,067 $1,331 $1,639
2023 Fairmount City, PA 16224 Low Rent (90%) $558 $639 $837 $1,026 $1,260
Average Rent $620 $710 $930 $1,140 $1,400
High Rent (110%) $682 $781 $1,023 $1,254 $1,540
2022 Fairmount City, PA 16224 Low Rent (90%) $459 $540 $693 $855 $1,017
Average Rent $510 $600 $770 $950 $1,130
High Rent(110%) $561 $660 $847 $1,045 $1,243
2021 Fairmount City, PA 16224 Low Rent (90%) $432 $513 $648 $819 $918
Average Rent $480 $570 $720 $910 $1,020
High Rent (110%) $528 $627 $792 $1,001 $1,122
2020 Fairmount City, PA 16224 Low Rent (90%) $423 $522 $639 $810 $882
Average Rent $470 $580 $710 $900 $980
High Rent(110%) $517 $638 $781 $990 $1,078
2019 Fairmount City, PA 16224 Low Rent (90%) $396 $504 $621 $792 $846
Average Rent $440 $560 $690 $880 $940
High Rent (110%) $484 $616 $759 $968 $1,034


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