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

Oak Ridge, TN 37831'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 37831 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 $792, a maximum of $968, and an average of $880.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $963, peaking at a maximum of $1,177, and averaging at $1,070.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,242, a maximum of $1,518, and an average of $1,380.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $1,449 to a maximum of $1,771, with an average of $1,610.

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 Oak Ridge, TN 37831 Low Rent (90%) $774 $792 $963 $1,242 $1,449
Average Rent $860 $880 $1,070 $1,380 $1,610
High Rent(110%) $946 $968 $1,177 $1,518 $1,771
2023 Oak Ridge, TN 37831 Low Rent (90%) $702 $756 $918 $1,197 $1,404
Average Rent $780 $840 $1,020 $1,330 $1,560
High Rent (110%) $858 $924 $1,122 $1,463 $1,716
2022 Oak Ridge, TN 37831 Low Rent (90%) $576 $639 $783 $1,026 $1,206
Average Rent $640 $710 $870 $1,140 $1,340
High Rent(110%) $704 $781 $957 $1,254 $1,474
2021 Oak Ridge, TN 37831 Low Rent (90%) $513 $603 $747 $972 $1,197
Average Rent $570 $670 $830 $1,080 $1,330
High Rent (110%) $627 $737 $913 $1,188 $1,463
2020 Oak Ridge, TN 37831 Low Rent (90%) $504 $594 $738 $963 $1,188
Average Rent $560 $660 $820 $1,070 $1,320
High Rent(110%) $616 $726 $902 $1,177 $1,452
2019 Oak Ridge, TN 37831 Low Rent (90%) $459 $567 $693 $900 $1,152
Average Rent $510 $630 $770 $1,000 $1,280
High Rent (110%) $561 $693 $847 $1,100 $1,408


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