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

Bloomfield Hills, MI 48302'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 48302 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 $954 to a high of $1,166, with an average of $1,060.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,062, a maximum of $1,298, and an average of $1,180.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,341, peaking at a maximum of $1,639, and averaging at $1,490.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,656, a maximum of $2,024, and an average of $1,840.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $1,782 to a maximum of $2,178, with an average of $1,980.

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 Bloomfield Hills, MI 48302 Low Rent (90%) $954 $1,062 $1,341 $1,656 $1,782
Average Rent $1,060 $1,180 $1,490 $1,840 $1,980
High Rent(110%) $1,166 $1,298 $1,639 $2,024 $2,178
2023 Bloomfield Hills, MI 48302 Low Rent (90%) $855 $972 $1,233 $1,539 $1,656
Average Rent $950 $1,080 $1,370 $1,710 $1,840
High Rent (110%) $1,045 $1,188 $1,507 $1,881 $2,024
2022 Bloomfield Hills, MI 48302 Low Rent (90%) $720 $828 $1,062 $1,341 $1,440
Average Rent $800 $920 $1,180 $1,490 $1,600
High Rent(110%) $880 $1,012 $1,298 $1,639 $1,760
2021 Bloomfield Hills, MI 48302 Low Rent (90%) $702 $828 $1,062 $1,359 $1,476
Average Rent $780 $920 $1,180 $1,510 $1,640
High Rent (110%) $858 $1,012 $1,298 $1,661 $1,804
2020 Bloomfield Hills, MI 48302 Low Rent (90%) $675 $810 $1,035 $1,341 $1,458
Average Rent $750 $900 $1,150 $1,490 $1,620
High Rent(110%) $825 $990 $1,265 $1,639 $1,782
2019 Bloomfield Hills, MI 48302 Low Rent (90%) $684 $837 $1,071 $1,395 $1,521
Average Rent $760 $930 $1,190 $1,550 $1,690
High Rent (110%) $836 $1,023 $1,309 $1,705 $1,859


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