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

Jerome, MI 49249'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 49249 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 $873, a maximum of $1,067, and an average of $970.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,062, peaking at a maximum of $1,298, and averaging at $1,180.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,395, a maximum of $1,705, and an average of $1,550.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $1,602 to a maximum of $1,958, with an average of $1,780.

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 Jerome, MI 49249 Low Rent (90%) $738 $873 $1,062 $1,395 $1,602
Average Rent $820 $970 $1,180 $1,550 $1,780
High Rent(110%) $902 $1,067 $1,298 $1,705 $1,958
2023 Jerome, MI 49249 Low Rent (90%) $675 $810 $963 $1,278 $1,458
Average Rent $750 $900 $1,070 $1,420 $1,620
High Rent (110%) $825 $990 $1,177 $1,562 $1,782
2022 Jerome, MI 49249 Low Rent (90%) $585 $693 $819 $1,071 $1,206
Average Rent $650 $770 $910 $1,190 $1,340
High Rent(110%) $715 $847 $1,001 $1,309 $1,474
2021 Jerome, MI 49249 Low Rent (90%) $576 $657 $765 $999 $1,107
Average Rent $640 $730 $850 $1,110 $1,230
High Rent (110%) $704 $803 $935 $1,221 $1,353
2020 Jerome, MI 49249 Low Rent (90%) $558 $612 $729 $936 $1,026
Average Rent $620 $680 $810 $1,040 $1,140
High Rent(110%) $682 $748 $891 $1,144 $1,254
2019 Jerome, MI 49249 Low Rent (90%) $549 $585 $720 $918 $1,008
Average Rent $610 $650 $800 $1,020 $1,120
High Rent (110%) $671 $715 $880 $1,122 $1,232


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