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

Paynesville, MN 56362'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 56362 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 $720 to a high of $880, with an average of $800.
One-bedroom: One-bedroom rental prices vary, with a minimum of $738, a maximum of $902, and an average of $820.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $945, peaking at a maximum of $1,155, and averaging at $1,050.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,251, a maximum of $1,529, and an average of $1,390.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $1,485 to a maximum of $1,815, with an average of $1,650.

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 Paynesville, MN 56362 Low Rent (90%) $720 $738 $945 $1,251 $1,485
Average Rent $800 $820 $1,050 $1,390 $1,650
High Rent(110%) $880 $902 $1,155 $1,529 $1,815
2023 Paynesville, MN 56362 Low Rent (90%) $621 $648 $801 $1,080 $1,278
Average Rent $690 $720 $890 $1,200 $1,420
High Rent (110%) $759 $792 $979 $1,320 $1,562
2022 Paynesville, MN 56362 Low Rent (90%) $567 $594 $729 $999 $1,179
Average Rent $630 $660 $810 $1,110 $1,310
High Rent(110%) $693 $726 $891 $1,221 $1,441
2021 Paynesville, MN 56362 Low Rent (90%) $513 $540 $657 $945 $1,116
Average Rent $570 $600 $730 $1,050 $1,240
High Rent (110%) $627 $660 $803 $1,155 $1,364
2020 Paynesville, MN 56362 Low Rent (90%) $486 $567 $693 $999 $1,224
Average Rent $540 $630 $770 $1,110 $1,360
High Rent(110%) $594 $693 $847 $1,221 $1,496
2019 Paynesville, MN 56362 Low Rent (90%) $441 $531 $648 $909 $1,143
Average Rent $490 $590 $720 $1,010 $1,270
High Rent (110%) $539 $649 $792 $1,111 $1,397


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