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

Luna Pier, MI 48157'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 48157 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 $585 to a high of $715, with an average of $650.
One-bedroom: One-bedroom rental prices vary, with a minimum of $666, a maximum of $814, and an average of $740.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $873, peaking at a maximum of $1,067, and averaging at $970.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,116, a maximum of $1,364, and an average of $1,240.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $1,422 to a maximum of $1,738, with an average of $1,580.

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 Luna Pier, MI 48157 Low Rent (90%) $585 $666 $873 $1,116 $1,422
Average Rent $650 $740 $970 $1,240 $1,580
High Rent(110%) $715 $814 $1,067 $1,364 $1,738
2023 Luna Pier, MI 48157 Low Rent (90%) $513 $594 $765 $1,008 $1,224
Average Rent $570 $660 $850 $1,120 $1,360
High Rent (110%) $627 $726 $935 $1,232 $1,496
2022 Luna Pier, MI 48157 Low Rent (90%) $513 $567 $729 $990 $1,089
Average Rent $570 $630 $810 $1,100 $1,210
High Rent(110%) $627 $693 $891 $1,210 $1,331
2021 Luna Pier, MI 48157 Low Rent (90%) $513 $567 $738 $999 $1,089
Average Rent $570 $630 $820 $1,110 $1,210
High Rent (110%) $627 $693 $902 $1,221 $1,331
2020 Luna Pier, MI 48157 Low Rent (90%) $531 $558 $720 $972 $981
Average Rent $590 $620 $800 $1,080 $1,090
High Rent(110%) $649 $682 $880 $1,188 $1,199
2019 Luna Pier, MI 48157 Low Rent (90%) $585 $603 $792 $1,071 $1,071
Average Rent $650 $670 $880 $1,190 $1,190
High Rent (110%) $715 $737 $968 $1,309 $1,309


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