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

Niles, MI 49120'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 49120 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 $630 to a high of $770, with an average of $700.
One-bedroom: One-bedroom rental prices vary, with a minimum of $711, a maximum of $869, and an average of $790.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $900, peaking at a maximum of $1,100, and averaging at $1,000.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,161, a maximum of $1,419, and an average of $1,290.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $1,251 to a maximum of $1,529, with an average of $1,390.

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 Niles, MI 49120 Low Rent (90%) $630 $711 $900 $1,161 $1,251
Average Rent $700 $790 $1,000 $1,290 $1,390
High Rent(110%) $770 $869 $1,100 $1,419 $1,529
2024 Niles, MI 49120 Low Rent (90%) $630 $711 $900 $1,161 $1,251
Average Rent $700 $790 $1,000 $1,290 $1,390
High Rent (110%) $770 $869 $1,100 $1,419 $1,529
2023 Niles, MI 49120 Low Rent (90%) $612 $630 $810 $1,053 $1,161
Average Rent $680 $700 $900 $1,170 $1,290
High Rent(110%) $748 $770 $990 $1,287 $1,419
2022 Niles, MI 49120 Low Rent (90%) $540 $567 $729 $945 $1,053
Average Rent $600 $630 $810 $1,050 $1,170
High Rent (110%) $660 $693 $891 $1,155 $1,287
2021 Niles, MI 49120 Low Rent (90%) $504 $531 $684 $882 $999
Average Rent $560 $590 $760 $980 $1,110
High Rent(110%) $616 $649 $836 $1,078 $1,221
2020 Niles, MI 49120 Low Rent (90%) $486 $504 $666 $846 $972
Average Rent $540 $560 $740 $940 $1,080
High Rent (110%) $594 $616 $814 $1,034 $1,188
2019 Niles, MI 49120 Low Rent (90%) $468 $486 $648 $837 $918
Average Rent $520 $540 $720 $930 $1,020
High Rent(110%) $572 $594 $792 $1,023 $1,122


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