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

Hillside, NJ 7205'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 7205 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 $1,287 to a high of $1,573, with an average of $1,430.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,476, a maximum of $1,804, and an average of $1,640.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,782, peaking at a maximum of $2,178, and averaging at $1,980.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,250, a maximum of $2,750, and an average of $2,500.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,601 to a maximum of $3,179, with an average of $2,890.

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 Hillside, NJ 7205 Low Rent (90%) $1,287 $1,476 $1,782 $2,250 $2,601
Average Rent $1,430 $1,640 $1,980 $2,500 $2,890
High Rent(110%) $1,573 $1,804 $2,178 $2,750 $3,179
2023 Hillside, NJ 7205 Low Rent (90%) $1,062 $1,260 $1,512 $1,917 $2,250
Average Rent $1,180 $1,400 $1,680 $2,130 $2,500
High Rent (110%) $1,298 $1,540 $1,848 $2,343 $2,750
2022 Hillside, NJ 7205 Low Rent (90%) $963 $1,152 $1,386 $1,764 $2,097
Average Rent $1,070 $1,280 $1,540 $1,960 $2,330
High Rent(110%) $1,177 $1,408 $1,694 $2,156 $2,563
2021 Hillside, NJ 7205 Low Rent (90%) $1,044 $1,260 $1,521 $1,944 $2,313
Average Rent $1,160 $1,400 $1,690 $2,160 $2,570
High Rent (110%) $1,276 $1,540 $1,859 $2,376 $2,827
2020 Hillside, NJ 7205 Low Rent (90%) $954 $1,125 $1,368 $1,746 $2,061
Average Rent $1,060 $1,250 $1,520 $1,940 $2,290
High Rent(110%) $1,166 $1,375 $1,672 $2,134 $2,519
2019 Hillside, NJ 7205 Low Rent (90%) $954 $1,089 $1,323 $1,692 $1,971
Average Rent $1,060 $1,210 $1,470 $1,880 $2,190
High Rent (110%) $1,166 $1,331 $1,617 $2,068 $2,409


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