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

, 638'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 638 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 $414 to a high of $506, with an average of $460.
One-bedroom: One-bedroom rental prices vary, with a minimum of $423, a maximum of $517, and an average of $470.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $477, peaking at a maximum of $583, and averaging at $530.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $675, a maximum of $825, and an average of $750.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $810 to a maximum of $990, with an average of $900.

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 , 638 Low Rent (90%) $414 $423 $477 $675 $810
Average Rent $460 $470 $530 $750 $900
High Rent(110%) $506 $517 $583 $825 $990
2024 , 638 Low Rent (90%) $414 $423 $477 $675 $810
Average Rent $460 $470 $530 $750 $900
High Rent (110%) $506 $517 $583 $825 $990
2023 , 638 Low Rent (90%) $351 $378 $441 $585 $711
Average Rent $390 $420 $490 $650 $790
High Rent(110%) $429 $462 $539 $715 $869
2022 , 638 Low Rent (90%) $360 $387 $459 $603 $738
Average Rent $400 $430 $510 $670 $820
High Rent (110%) $440 $473 $561 $737 $902
2021 , 638 Low Rent (90%) $342 $369 $432 $576 $711
Average Rent $380 $410 $480 $640 $790
High Rent(110%) $418 $451 $528 $704 $869
2020 , 638 Low Rent (90%) $351 $378 $450 $594 $747
Average Rent $390 $420 $500 $660 $830
High Rent (110%) $429 $462 $550 $726 $913
2019 , 638 Low Rent (90%) $342 $360 $432 $576 $720
Average Rent $380 $400 $480 $640 $800
High Rent(110%) $418 $440 $528 $704 $880


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