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

Wilmington, NC 28409'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 28409 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 $1,098 to a high of $1,342, with an average of $1,220.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,440, a maximum of $1,760, and an average of $1,600.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,620, peaking at a maximum of $1,980, and averaging at $1,800.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,142, a maximum of $2,618, and an average of $2,380.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,736 to a maximum of $3,344, with an average of $3,040.

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 Wilmington, NC 28409 Low Rent (90%) $1,098 $1,440 $1,620 $2,142 $2,736
Average Rent $1,220 $1,600 $1,800 $2,380 $3,040
High Rent(110%) $1,342 $1,760 $1,980 $2,618 $3,344
2023 Wilmington, NC 28409 Low Rent (90%) $918 $1,188 $1,350 $1,791 $2,304
Average Rent $1,020 $1,320 $1,500 $1,990 $2,560
High Rent (110%) $1,122 $1,452 $1,650 $2,189 $2,816
2022 Wilmington, NC 28409 Low Rent (90%) $891 $1,080 $1,278 $1,692 $2,187
Average Rent $990 $1,200 $1,420 $1,880 $2,430
High Rent(110%) $1,089 $1,320 $1,562 $2,068 $2,673
2021 Wilmington, NC 28409 Low Rent (90%) $828 $963 $1,179 $1,602 $2,034
Average Rent $920 $1,070 $1,310 $1,780 $2,260
High Rent (110%) $1,012 $1,177 $1,441 $1,958 $2,486
2020 Wilmington, NC 28409 Low Rent (90%) $765 $882 $1,098 $1,512 $1,854
Average Rent $850 $980 $1,220 $1,680 $2,060
High Rent(110%) $935 $1,078 $1,342 $1,848 $2,266
2019 Wilmington, NC 28409 Low Rent (90%) $819 $909 $1,152 $1,611 $1,953
Average Rent $910 $1,010 $1,280 $1,790 $2,170
High Rent (110%) $1,001 $1,111 $1,408 $1,969 $2,387


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