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

Coloma, MI 49038'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 49038 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 $648 to a high of $792, with an average of $720.
One-bedroom: One-bedroom rental prices vary, with a minimum of $729, a maximum of $891, and an average of $810.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $954, peaking at a maximum of $1,166, and averaging at $1,060.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,224, a maximum of $1,496, and an average of $1,360.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $1,278 to a maximum of $1,562, with an average of $1,420.

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 Coloma, MI 49038 Low Rent (90%) $648 $729 $954 $1,224 $1,278
Average Rent $720 $810 $1,060 $1,360 $1,420
High Rent(110%) $792 $891 $1,166 $1,496 $1,562
2023 Coloma, MI 49038 Low Rent (90%) $666 $675 $882 $1,134 $1,260
Average Rent $740 $750 $980 $1,260 $1,400
High Rent (110%) $814 $825 $1,078 $1,386 $1,540
2022 Coloma, MI 49038 Low Rent (90%) $585 $594 $765 $990 $1,134
Average Rent $650 $660 $850 $1,100 $1,260
High Rent(110%) $715 $726 $935 $1,210 $1,386
2021 Coloma, MI 49038 Low Rent (90%) $567 $576 $738 $954 $1,098
Average Rent $630 $640 $820 $1,060 $1,220
High Rent (110%) $693 $704 $902 $1,166 $1,342
2020 Coloma, MI 49038 Low Rent (90%) $549 $558 $729 $936 $1,080
Average Rent $610 $620 $810 $1,040 $1,200
High Rent(110%) $671 $682 $891 $1,144 $1,320
2019 Coloma, MI 49038 Low Rent (90%) $522 $549 $729 $936 $1,080
Average Rent $580 $610 $810 $1,040 $1,200
High Rent (110%) $638 $671 $891 $1,144 $1,320


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