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

Waterford, MI 48327'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 48327 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 $738 to a high of $902, with an average of $820.
One-bedroom: One-bedroom rental prices vary, with a minimum of $819, a maximum of $1,001, and an average of $910.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,035, peaking at a maximum of $1,265, and averaging at $1,150.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,278, a maximum of $1,562, and an average of $1,420.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $1,377 to a maximum of $1,683, with an average of $1,530.

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 Waterford, MI 48327 Low Rent (90%) $738 $819 $1,035 $1,278 $1,377
Average Rent $820 $910 $1,150 $1,420 $1,530
High Rent(110%) $902 $1,001 $1,265 $1,562 $1,683
2023 Waterford, MI 48327 Low Rent (90%) $684 $774 $981 $1,224 $1,314
Average Rent $760 $860 $1,090 $1,360 $1,460
High Rent (110%) $836 $946 $1,199 $1,496 $1,606
2022 Waterford, MI 48327 Low Rent (90%) $594 $684 $873 $1,107 $1,188
Average Rent $660 $760 $970 $1,230 $1,320
High Rent(110%) $726 $836 $1,067 $1,353 $1,452
2021 Waterford, MI 48327 Low Rent (90%) $558 $657 $837 $1,071 $1,161
Average Rent $620 $730 $930 $1,190 $1,290
High Rent (110%) $682 $803 $1,023 $1,309 $1,419
2020 Waterford, MI 48327 Low Rent (90%) $504 $612 $792 $1,026 $1,116
Average Rent $560 $680 $880 $1,140 $1,240
High Rent(110%) $616 $748 $968 $1,254 $1,364
2019 Waterford, MI 48327 Low Rent (90%) $486 $594 $765 $1,008 $1,089
Average Rent $540 $660 $850 $1,120 $1,210
High Rent (110%) $594 $726 $935 $1,232 $1,331


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