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

, 732'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 732 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 $432 to a high of $528, with an average of $480.
One-bedroom: One-bedroom rental prices vary, with a minimum of $441, a maximum of $539, and an average of $490.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $495, peaking at a maximum of $605, and averaging at $550.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $702, a maximum of $858, and an average of $780.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $783 to a maximum of $957, with an average of $870.

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 , 732 Low Rent (90%) $432 $441 $495 $702 $783
Average Rent $480 $490 $550 $780 $870
High Rent(110%) $528 $539 $605 $858 $957
2023 , 732 Low Rent (90%) $387 $396 $450 $630 $711
Average Rent $430 $440 $500 $700 $790
High Rent (110%) $473 $484 $550 $770 $869
2022 , 732 Low Rent (90%) $369 $369 $423 $603 $702
Average Rent $410 $410 $470 $670 $780
High Rent(110%) $451 $451 $517 $737 $858
2021 , 732 Low Rent (90%) $351 $360 $414 $594 $684
Average Rent $390 $400 $460 $660 $760
High Rent (110%) $429 $440 $506 $726 $836
2020 , 732 Low Rent (90%) $351 $360 $414 $594 $702
Average Rent $390 $400 $460 $660 $780
High Rent(110%) $429 $440 $506 $726 $858
2019 , 732 Low Rent (90%) $378 $387 $441 $639 $774
Average Rent $420 $430 $490 $710 $860
High Rent (110%) $462 $473 $539 $781 $946


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