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

Lake Orion, MI 48359'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 48359 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 $918 to a high of $1,122, with an average of $1,020.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,017, a maximum of $1,243, and an average of $1,130.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,287, peaking at a maximum of $1,573, and averaging at $1,430.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,593, a maximum of $1,947, and an average of $1,770.
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 Lake Orion, MI 48359 Low Rent (90%) $918 $1,017 $1,287 $1,593 $1,710
Average Rent $1,020 $1,130 $1,430 $1,770 $1,900
High Rent(110%) $1,122 $1,243 $1,573 $1,947 $2,090
2023 Lake Orion, MI 48359 Low Rent (90%) $864 $972 $1,242 $1,548 $1,665
Average Rent $960 $1,080 $1,380 $1,720 $1,850
High Rent (110%) $1,056 $1,188 $1,518 $1,892 $2,035
2022 Lake Orion, MI 48359 Low Rent (90%) $765 $891 $1,134 $1,431 $1,539
Average Rent $850 $990 $1,260 $1,590 $1,710
High Rent(110%) $935 $1,089 $1,386 $1,749 $1,881
2021 Lake Orion, MI 48359 Low Rent (90%) $711 $837 $1,071 $1,368 $1,485
Average Rent $790 $930 $1,190 $1,520 $1,650
High Rent (110%) $869 $1,023 $1,309 $1,672 $1,815
2020 Lake Orion, MI 48359 Low Rent (90%) $612 $729 $936 $1,215 $1,314
Average Rent $680 $810 $1,040 $1,350 $1,460
High Rent(110%) $748 $891 $1,144 $1,485 $1,606
2019 Lake Orion, MI 48359 Low Rent (90%) $540 $648 $837 $1,089 $1,188
Average Rent $600 $720 $930 $1,210 $1,320
High Rent (110%) $660 $792 $1,023 $1,331 $1,452


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