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

New Iberia, LA 70562'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 70562 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 $621 to a high of $759, with an average of $690.
One-bedroom: One-bedroom rental prices vary, with a minimum of $621, a maximum of $759, and an average of $690.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $819, peaking at a maximum of $1,001, and averaging at $910.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,053, a maximum of $1,287, and an average of $1,170.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $1,368 to a maximum of $1,672, with an average of $1,520.

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 New Iberia, LA 70562 Low Rent (90%) $621 $621 $819 $1,053 $1,368
Average Rent $690 $690 $910 $1,170 $1,520
High Rent(110%) $759 $759 $1,001 $1,287 $1,672
2023 New Iberia, LA 70562 Low Rent (90%) $630 $639 $837 $1,062 $1,305
Average Rent $700 $710 $930 $1,180 $1,450
High Rent (110%) $770 $781 $1,023 $1,298 $1,595
2022 New Iberia, LA 70562 Low Rent (90%) $558 $567 $747 $954 $1,134
Average Rent $620 $630 $830 $1,060 $1,260
High Rent(110%) $682 $693 $913 $1,166 $1,386
2021 New Iberia, LA 70562 Low Rent (90%) $540 $540 $711 $882 $1,125
Average Rent $600 $600 $790 $980 $1,250
High Rent (110%) $660 $660 $869 $1,078 $1,375
2020 New Iberia, LA 70562 Low Rent (90%) $540 $549 $720 $900 $1,197
Average Rent $600 $610 $800 $1,000 $1,330
High Rent(110%) $660 $671 $880 $1,100 $1,463
2019 New Iberia, LA 70562 Low Rent (90%) $531 $531 $693 $864 $972
Average Rent $590 $590 $770 $960 $1,080
High Rent (110%) $649 $649 $847 $1,056 $1,188


Discover Section 8 FMR by zip code