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

North Andover, MA 1845'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 1845 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 $1,647 to a high of $2,013, with an average of $1,830.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,800, a maximum of $2,200, and an average of $2,000.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $2,322, peaking at a maximum of $2,838, and averaging at $2,580.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,817, a maximum of $3,443, and an average of $3,130.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $3,096 to a maximum of $3,784, with an average of $3,440.

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 North Andover, MA 1845 Low Rent (90%) $1,647 $1,800 $2,322 $2,817 $3,096
Average Rent $1,830 $2,000 $2,580 $3,130 $3,440
High Rent(110%) $2,013 $2,200 $2,838 $3,443 $3,784
2024 North Andover, MA 1845 Low Rent (90%) $1,647 $1,800 $2,322 $2,817 $3,096
Average Rent $1,830 $2,000 $2,580 $3,130 $3,440
High Rent (110%) $2,013 $2,200 $2,838 $3,443 $3,784
2023 North Andover, MA 1845 Low Rent (90%) $1,404 $1,629 $2,097 $2,556 $2,817
Average Rent $1,560 $1,810 $2,330 $2,840 $3,130
High Rent(110%) $1,716 $1,991 $2,563 $3,124 $3,443
2022 North Andover, MA 1845 Low Rent (90%) $1,197 $1,404 $1,800 $2,223 $2,439
Average Rent $1,330 $1,560 $2,000 $2,470 $2,710
High Rent (110%) $1,463 $1,716 $2,200 $2,717 $2,981
2021 North Andover, MA 1845 Low Rent (90%) $1,134 $1,323 $1,701 $2,115 $2,304
Average Rent $1,260 $1,470 $1,890 $2,350 $2,560
High Rent(110%) $1,386 $1,617 $2,079 $2,585 $2,816
2020 North Andover, MA 1845 Low Rent (90%) $1,107 $1,278 $1,647 $2,052 $2,232
Average Rent $1,230 $1,420 $1,830 $2,280 $2,480
High Rent (110%) $1,353 $1,562 $2,013 $2,508 $2,728
2019 North Andover, MA 1845 Low Rent (90%) $1,044 $1,197 $1,539 $1,926 $2,079
Average Rent $1,160 $1,330 $1,710 $2,140 $2,310
High Rent(110%) $1,276 $1,463 $1,881 $2,354 $2,541


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