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

Needham, IN 46162'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 46162 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 $882 to a high of $1,078, with an average of $980.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,026, a maximum of $1,254, and an average of $1,140.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,215, peaking at a maximum of $1,485, and averaging at $1,350.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,575, a maximum of $1,925, and an average of $1,750.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $1,908 to a maximum of $2,332, with an average of $2,120.

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 Needham, IN 46162 Low Rent (90%) $882 $1,026 $1,215 $1,575 $1,908
Average Rent $980 $1,140 $1,350 $1,750 $2,120
High Rent(110%) $1,078 $1,254 $1,485 $1,925 $2,332
2023 Needham, IN 46162 Low Rent (90%) $702 $810 $963 $1,260 $1,512
Average Rent $780 $900 $1,070 $1,400 $1,680
High Rent (110%) $858 $990 $1,177 $1,540 $1,848
2022 Needham, IN 46162 Low Rent (90%) $612 $711 $855 $1,116 $1,323
Average Rent $680 $790 $950 $1,240 $1,470
High Rent(110%) $748 $869 $1,045 $1,364 $1,617
2021 Needham, IN 46162 Low Rent (90%) $630 $720 $873 $1,152 $1,341
Average Rent $700 $800 $970 $1,280 $1,490
High Rent (110%) $770 $880 $1,067 $1,408 $1,639
2020 Needham, IN 46162 Low Rent (90%) $630 $729 $891 $1,188 $1,350
Average Rent $700 $810 $990 $1,320 $1,500
High Rent(110%) $770 $891 $1,089 $1,452 $1,650
2019 Needham, IN 46162 Low Rent (90%) $585 $675 $819 $1,098 $1,242
Average Rent $650 $750 $910 $1,220 $1,380
High Rent (110%) $715 $825 $1,001 $1,342 $1,518


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