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

Suffolk, VA 23438'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 23438 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 $1,584 to a high of $1,936, with an average of $1,760.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,602, a maximum of $1,958, and an average of $1,780.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,854, peaking at a maximum of $2,266, and averaging at $2,060.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,583, a maximum of $3,157, and an average of $2,870.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $3,141 to a maximum of $3,839, with an average of $3,490.

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 Suffolk, VA 23438 Low Rent (90%) $1,584 $1,602 $1,854 $2,583 $3,141
Average Rent $1,760 $1,780 $2,060 $2,870 $3,490
High Rent(110%) $1,936 $1,958 $2,266 $3,157 $3,839
2023 Suffolk, VA 23438 Low Rent (90%) $810 $828 $972 $1,359 $1,656
Average Rent $900 $920 $1,080 $1,510 $1,840
High Rent (110%) $990 $1,012 $1,188 $1,661 $2,024
2022 Suffolk, VA 23438 Low Rent (90%) $783 $792 $936 $1,314 $1,611
Average Rent $870 $880 $1,040 $1,460 $1,790
High Rent(110%) $957 $968 $1,144 $1,606 $1,969
2021 Suffolk, VA 23438 Low Rent (90%) $774 $783 $927 $1,305 $1,620
Average Rent $860 $870 $1,030 $1,450 $1,800
High Rent (110%) $946 $957 $1,133 $1,595 $1,980
2020 Suffolk, VA 23438 Low Rent (90%) $747 $756 $900 $1,260 $1,575
Average Rent $830 $840 $1,000 $1,400 $1,750
High Rent(110%) $913 $924 $1,100 $1,540 $1,925
2019 Suffolk, VA 23438 Low Rent (90%) $738 $747 $891 $1,242 $1,557
Average Rent $820 $830 $990 $1,380 $1,730
High Rent (110%) $902 $913 $1,089 $1,518 $1,903


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