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

Wallace, NC 28466'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 28466 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 $558 to a high of $682, with an average of $620.
One-bedroom: One-bedroom rental prices vary, with a minimum of $711, a maximum of $869, and an average of $790.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $801, peaking at a maximum of $979, and averaging at $890.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,116, a maximum of $1,364, and an average of $1,240.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $1,278 to a maximum of $1,562, with an average of $1,420.

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 Wallace, NC 28466 Low Rent (90%) $558 $711 $801 $1,116 $1,278
Average Rent $620 $790 $890 $1,240 $1,420
High Rent(110%) $682 $869 $979 $1,364 $1,562
2023 Wallace, NC 28466 Low Rent (90%) $531 $630 $738 $1,008 $1,161
Average Rent $590 $700 $820 $1,120 $1,290
High Rent (110%) $649 $770 $902 $1,232 $1,419
2022 Wallace, NC 28466 Low Rent (90%) $495 $567 $684 $945 $1,143
Average Rent $550 $630 $760 $1,050 $1,270
High Rent(110%) $605 $693 $836 $1,155 $1,397
2021 Wallace, NC 28466 Low Rent (90%) $459 $522 $630 $864 $1,080
Average Rent $510 $580 $700 $960 $1,200
High Rent (110%) $561 $638 $770 $1,056 $1,320
2020 Wallace, NC 28466 Low Rent (90%) $495 $567 $648 $873 $1,134
Average Rent $550 $630 $720 $970 $1,260
High Rent(110%) $605 $693 $792 $1,067 $1,386
2019 Wallace, NC 28466 Low Rent (90%) $549 $567 $648 $864 $1,143
Average Rent $610 $630 $720 $960 $1,270
High Rent (110%) $671 $693 $792 $1,056 $1,397


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