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

Newport, ME 4953'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 4953 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 $657 to a high of $803, with an average of $730.
One-bedroom: One-bedroom rental prices vary, with a minimum of $702, a maximum of $858, and an average of $780.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $927, peaking at a maximum of $1,133, and averaging at $1,030.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,152, a maximum of $1,408, and an average of $1,280.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $1,296 to a maximum of $1,584, with an average of $1,440.

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 Newport, ME 4953 Low Rent (90%) $657 $702 $927 $1,152 $1,296
Average Rent $730 $780 $1,030 $1,280 $1,440
High Rent(110%) $803 $858 $1,133 $1,408 $1,584
2023 Newport, ME 4953 Low Rent (90%) $639 $666 $873 $1,098 $1,170
Average Rent $710 $740 $970 $1,220 $1,300
High Rent (110%) $781 $814 $1,067 $1,342 $1,430
2022 Newport, ME 4953 Low Rent (90%) $594 $648 $855 $1,062 $1,161
Average Rent $660 $720 $950 $1,180 $1,290
High Rent(110%) $726 $792 $1,045 $1,298 $1,419
2021 Newport, ME 4953 Low Rent (90%) $549 $612 $801 $999 $1,089
Average Rent $610 $680 $890 $1,110 $1,210
High Rent (110%) $671 $748 $979 $1,221 $1,331
2020 Newport, ME 4953 Low Rent (90%) $576 $585 $765 $963 $1,035
Average Rent $640 $650 $850 $1,070 $1,150
High Rent(110%) $704 $715 $935 $1,177 $1,265
2019 Newport, ME 4953 Low Rent (90%) $639 $639 $846 $1,062 $1,143
Average Rent $710 $710 $940 $1,180 $1,270
High Rent (110%) $781 $781 $1,034 $1,298 $1,397


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