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

, 647'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 647 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 $396 to a high of $484, with an average of $440.
One-bedroom: One-bedroom rental prices vary, with a minimum of $405, a maximum of $495, and an average of $450.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $468, peaking at a maximum of $572, and averaging at $520.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $612, a maximum of $748, and an average of $680.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $648 to a maximum of $792, with an average of $720.

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 , 647 Low Rent (90%) $396 $405 $468 $612 $648
Average Rent $440 $450 $520 $680 $720
High Rent(110%) $484 $495 $572 $748 $792
2024 , 647 Low Rent (90%) $396 $405 $468 $612 $648
Average Rent $440 $450 $520 $680 $720
High Rent (110%) $484 $495 $572 $748 $792
2023 , 647 Low Rent (90%) $360 $378 $432 $576 $612
Average Rent $400 $420 $480 $640 $680
High Rent(110%) $440 $462 $528 $704 $748
2022 , 647 Low Rent (90%) $333 $351 $396 $540 $603
Average Rent $370 $390 $440 $600 $670
High Rent (110%) $407 $429 $484 $660 $737
2021 , 647 Low Rent (90%) $360 $369 $414 $576 $666
Average Rent $400 $410 $460 $640 $740
High Rent(110%) $440 $451 $506 $704 $814
2020 , 647 Low Rent (90%) $396 $405 $459 $639 $738
Average Rent $440 $450 $510 $710 $820
High Rent (110%) $484 $495 $561 $781 $902
2019 , 647 Low Rent (90%) $396 $405 $468 $648 $819
Average Rent $440 $450 $520 $720 $910
High Rent(110%) $484 $495 $572 $792 $1,001


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