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

Michigan City, IN 46360'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 46360 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 $621 to a high of $759, with an average of $690.
One-bedroom: One-bedroom rental prices vary, with a minimum of $738, a maximum of $902, and an average of $820.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $909, peaking at a maximum of $1,111, and averaging at $1,010.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,161, a maximum of $1,419, and an average of $1,290.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $1,305 to a maximum of $1,595, with an average of $1,450.

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 Michigan City, IN 46360 Low Rent (90%) $621 $738 $909 $1,161 $1,305
Average Rent $690 $820 $1,010 $1,290 $1,450
High Rent(110%) $759 $902 $1,111 $1,419 $1,595
2024 Michigan City, IN 46360 Low Rent (90%) $621 $738 $909 $1,161 $1,305
Average Rent $690 $820 $1,010 $1,290 $1,450
High Rent (110%) $759 $902 $1,111 $1,419 $1,595
2023 Michigan City, IN 46360 Low Rent (90%) $567 $684 $846 $1,089 $1,215
Average Rent $630 $760 $940 $1,210 $1,350
High Rent(110%) $693 $836 $1,034 $1,331 $1,485
2022 Michigan City, IN 46360 Low Rent (90%) $495 $585 $738 $972 $1,062
Average Rent $550 $650 $820 $1,080 $1,180
High Rent (110%) $605 $715 $902 $1,188 $1,298
2021 Michigan City, IN 46360 Low Rent (90%) $477 $576 $729 $963 $1,008
Average Rent $530 $640 $810 $1,070 $1,120
High Rent(110%) $583 $704 $891 $1,177 $1,232
2020 Michigan City, IN 46360 Low Rent (90%) $477 $567 $729 $945 $990
Average Rent $530 $630 $810 $1,050 $1,100
High Rent (110%) $583 $693 $891 $1,155 $1,210
2019 Michigan City, IN 46360 Low Rent (90%) $468 $558 $729 $927 $990
Average Rent $520 $620 $810 $1,030 $1,100
High Rent(110%) $572 $682 $891 $1,133 $1,210


Discover Section 8 FMR by zip code