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

Jersey City, NJ 7304'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 7304 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 $1,557 to a high of $1,903, with an average of $1,730.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,584, a maximum of $1,936, and an average of $1,760.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,800, peaking at a maximum of $2,200, and averaging at $2,000.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,232, a maximum of $2,728, and an average of $2,480.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,493 to a maximum of $3,047, with an average of $2,770.

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 Jersey City, NJ 7304 Low Rent (90%) $1,557 $1,584 $1,800 $2,232 $2,493
Average Rent $1,730 $1,760 $2,000 $2,480 $2,770
High Rent(110%) $1,903 $1,936 $2,200 $2,728 $3,047
2023 Jersey City, NJ 7304 Low Rent (90%) $1,404 $1,440 $1,656 $2,043 $2,223
Average Rent $1,560 $1,600 $1,840 $2,270 $2,470
High Rent (110%) $1,716 $1,760 $2,024 $2,497 $2,717
2022 Jersey City, NJ 7304 Low Rent (90%) $1,260 $1,368 $1,593 $1,980 $2,151
Average Rent $1,400 $1,520 $1,770 $2,200 $2,390
High Rent(110%) $1,540 $1,672 $1,947 $2,420 $2,629
2021 Jersey City, NJ 7304 Low Rent (90%) $1,206 $1,314 $1,521 $1,890 $2,061
Average Rent $1,340 $1,460 $1,690 $2,100 $2,290
High Rent (110%) $1,474 $1,606 $1,859 $2,310 $2,519
2020 Jersey City, NJ 7304 Low Rent (90%) $1,017 $1,134 $1,332 $1,656 $1,800
Average Rent $1,130 $1,260 $1,480 $1,840 $2,000
High Rent(110%) $1,243 $1,386 $1,628 $2,024 $2,200
2019 Jersey City, NJ 7304 Low Rent (90%) $981 $1,098 $1,314 $1,656 $1,782
Average Rent $1,090 $1,220 $1,460 $1,840 $1,980
High Rent (110%) $1,199 $1,342 $1,606 $2,024 $2,178


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