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

Waterford, CT 6385'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 6385 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 $1,107 to a high of $1,353, with an average of $1,230.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,332, a maximum of $1,628, and an average of $1,480.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,638, peaking at a maximum of $2,002, and averaging at $1,820.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,133, a maximum of $2,607, and an average of $2,370.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,763 to a maximum of $3,377, with an average of $3,070.

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 Waterford, CT 6385 Low Rent (90%) $1,107 $1,332 $1,638 $2,133 $2,763
Average Rent $1,230 $1,480 $1,820 $2,370 $3,070
High Rent(110%) $1,353 $1,628 $2,002 $2,607 $3,377
2023 Waterford, CT 6385 Low Rent (90%) $1,035 $1,260 $1,548 $2,007 $2,637
Average Rent $1,150 $1,400 $1,720 $2,230 $2,930
High Rent (110%) $1,265 $1,540 $1,892 $2,453 $3,223
2022 Waterford, CT 6385 Low Rent (90%) $873 $1,053 $1,314 $1,692 $2,205
Average Rent $970 $1,170 $1,460 $1,880 $2,450
High Rent(110%) $1,067 $1,287 $1,606 $2,068 $2,695
2021 Waterford, CT 6385 Low Rent (90%) $855 $1,026 $1,296 $1,674 $2,142
Average Rent $950 $1,140 $1,440 $1,860 $2,380
High Rent (110%) $1,045 $1,254 $1,584 $2,046 $2,618
2020 Waterford, CT 6385 Low Rent (90%) $864 $990 $1,260 $1,629 $2,016
Average Rent $960 $1,100 $1,400 $1,810 $2,240
High Rent(110%) $1,056 $1,210 $1,540 $1,991 $2,464
2019 Waterford, CT 6385 Low Rent (90%) $855 $963 $1,224 $1,611 $1,935
Average Rent $950 $1,070 $1,360 $1,790 $2,150
High Rent (110%) $1,045 $1,177 $1,496 $1,969 $2,365


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