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

Gatesville, NC 27938'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 27938 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 $819 to a high of $1,001, with an average of $910.
One-bedroom: One-bedroom rental prices vary, with a minimum of $828, a maximum of $1,012, and an average of $920.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $954, peaking at a maximum of $1,166, and averaging at $1,060.
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 $1,620 to a maximum of $1,980, with an average of $1,800.

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 Gatesville, NC 27938 Low Rent (90%) $819 $828 $954 $1,296 $1,620
Average Rent $910 $920 $1,060 $1,440 $1,800
High Rent(110%) $1,001 $1,012 $1,166 $1,584 $1,980
2023 Gatesville, NC 27938 Low Rent (90%) $684 $693 $810 $1,053 $1,305
Average Rent $760 $770 $900 $1,170 $1,450
High Rent (110%) $836 $847 $990 $1,287 $1,595
2022 Gatesville, NC 27938 Low Rent (90%) $594 $603 $711 $918 $1,179
Average Rent $660 $670 $790 $1,020 $1,310
High Rent(110%) $726 $737 $869 $1,122 $1,441
2021 Gatesville, NC 27938 Low Rent (90%) $567 $576 $675 $882 $1,170
Average Rent $630 $640 $750 $980 $1,300
High Rent (110%) $693 $704 $825 $1,078 $1,430
2020 Gatesville, NC 27938 Low Rent (90%) $540 $540 $639 $918 $1,116
Average Rent $600 $600 $710 $1,020 $1,240
High Rent(110%) $660 $660 $781 $1,122 $1,364
2019 Gatesville, NC 27938 Low Rent (90%) $567 $567 $675 $972 $1,188
Average Rent $630 $630 $750 $1,080 $1,320
High Rent (110%) $693 $693 $825 $1,188 $1,452


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