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

Bloomington, IN 47401'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 47401 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 $801 to a high of $979, with an average of $890.
One-bedroom: One-bedroom rental prices vary, with a minimum of $927, a maximum of $1,133, and an average of $1,030.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,062, peaking at a maximum of $1,298, and averaging at $1,180.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,458, a maximum of $1,782, and an average of $1,620.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $1,710 to a maximum of $2,090, with an average of $1,900.

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 Bloomington, IN 47401 Low Rent (90%) $801 $927 $1,062 $1,458 $1,710
Average Rent $890 $1,030 $1,180 $1,620 $1,900
High Rent(110%) $979 $1,133 $1,298 $1,782 $2,090
2024 Bloomington, IN 47401 Low Rent (90%) $801 $927 $1,062 $1,458 $1,710
Average Rent $890 $1,030 $1,180 $1,620 $1,900
High Rent (110%) $979 $1,133 $1,298 $1,782 $2,090
2023 Bloomington, IN 47401 Low Rent (90%) $792 $927 $1,089 $1,521 $1,809
Average Rent $880 $1,030 $1,210 $1,690 $2,010
High Rent(110%) $968 $1,133 $1,331 $1,859 $2,211
2022 Bloomington, IN 47401 Low Rent (90%) $702 $801 $963 $1,359 $1,647
Average Rent $780 $890 $1,070 $1,510 $1,830
High Rent (110%) $858 $979 $1,177 $1,661 $2,013
2021 Bloomington, IN 47401 Low Rent (90%) $684 $747 $927 $1,278 $1,602
Average Rent $760 $830 $1,030 $1,420 $1,780
High Rent(110%) $836 $913 $1,133 $1,562 $1,958
2020 Bloomington, IN 47401 Low Rent (90%) $657 $702 $891 $1,188 $1,566
Average Rent $730 $780 $990 $1,320 $1,740
High Rent (110%) $803 $858 $1,089 $1,452 $1,914
2019 Bloomington, IN 47401 Low Rent (90%) $711 $747 $963 $1,269 $1,692
Average Rent $790 $830 $1,070 $1,410 $1,880
High Rent(110%) $869 $913 $1,177 $1,551 $2,068


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