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

Pompton Lakes, NJ 7442'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 7442 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 $1,512, a maximum of $1,848, and an average of $1,680.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,737, peaking at a maximum of $2,123, and averaging at $1,930.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,151, a maximum of $2,629, and an average of $2,390.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,709 to a maximum of $3,311, with an average of $3,010.

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 Pompton Lakes, NJ 7442 Low Rent (90%) $1,287 $1,512 $1,737 $2,151 $2,709
Average Rent $1,430 $1,680 $1,930 $2,390 $3,010
High Rent(110%) $1,573 $1,848 $2,123 $2,629 $3,311
2023 Pompton Lakes, NJ 7442 Low Rent (90%) $1,269 $1,521 $1,764 $2,187 $2,754
Average Rent $1,410 $1,690 $1,960 $2,430 $3,060
High Rent (110%) $1,551 $1,859 $2,156 $2,673 $3,366
2022 Pompton Lakes, NJ 7442 Low Rent (90%) $1,215 $1,449 $1,701 $2,115 $2,637
Average Rent $1,350 $1,610 $1,890 $2,350 $2,930
High Rent(110%) $1,485 $1,771 $2,079 $2,585 $3,223
2021 Pompton Lakes, NJ 7442 Low Rent (90%) $1,242 $1,485 $1,746 $2,169 $2,691
Average Rent $1,380 $1,650 $1,940 $2,410 $2,990
High Rent (110%) $1,518 $1,815 $2,134 $2,651 $3,289
2020 Pompton Lakes, NJ 7442 Low Rent (90%) $1,116 $1,332 $1,575 $1,962 $2,412
Average Rent $1,240 $1,480 $1,750 $2,180 $2,680
High Rent(110%) $1,364 $1,628 $1,925 $2,398 $2,948
2019 Pompton Lakes, NJ 7442 Low Rent (90%) $1,179 $1,404 $1,647 $2,079 $2,520
Average Rent $1,310 $1,560 $1,830 $2,310 $2,800
High Rent (110%) $1,441 $1,716 $2,013 $2,541 $3,080


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