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

Fosters, AL 35463'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 35463 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 $774 to a high of $946, with an average of $860.
One-bedroom: One-bedroom rental prices vary, with a minimum of $783, a maximum of $957, and an average of $870.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $972, peaking at a maximum of $1,188, and averaging at $1,080.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,224, a maximum of $1,496, and an average of $1,360.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $1,296 to a maximum of $1,584, with an average of $1,440.

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 Fosters, AL 35463 Low Rent (90%) $774 $783 $972 $1,224 $1,296
Average Rent $860 $870 $1,080 $1,360 $1,440
High Rent(110%) $946 $957 $1,188 $1,496 $1,584
2024 Fosters, AL 35463 Low Rent (90%) $774 $783 $972 $1,224 $1,296
Average Rent $860 $870 $1,080 $1,360 $1,440
High Rent (110%) $946 $957 $1,188 $1,496 $1,584
2023 Fosters, AL 35463 Low Rent (90%) $693 $702 $873 $1,089 $1,170
Average Rent $770 $780 $970 $1,210 $1,300
High Rent(110%) $847 $858 $1,067 $1,331 $1,430
2022 Fosters, AL 35463 Low Rent (90%) $657 $657 $801 $1,008 $1,089
Average Rent $730 $730 $890 $1,120 $1,210
High Rent (110%) $803 $803 $979 $1,232 $1,331
2021 Fosters, AL 35463 Low Rent (90%) $594 $657 $810 $1,026 $1,089
Average Rent $660 $730 $900 $1,140 $1,210
High Rent(110%) $726 $803 $990 $1,254 $1,331
2020 Fosters, AL 35463 Low Rent (90%) $657 $729 $891 $1,134 $1,206
Average Rent $730 $810 $990 $1,260 $1,340
High Rent (110%) $803 $891 $1,089 $1,386 $1,474
2019 Fosters, AL 35463 Low Rent (90%) $729 $810 $981 $1,260 $1,332
Average Rent $810 $900 $1,090 $1,400 $1,480
High Rent(110%) $891 $990 $1,199 $1,540 $1,628


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