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

Oxford, NJ 7863'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 7863 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 $1,053 to a high of $1,287, with an average of $1,170.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,152, a maximum of $1,408, and an average of $1,280.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,386, peaking at a maximum of $1,694, and averaging at $1,540.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,755, a maximum of $2,145, and an average of $1,950.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,052 to a maximum of $2,508, with an average of $2,280.

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 Oxford, NJ 7863 Low Rent (90%) $1,053 $1,152 $1,386 $1,755 $2,052
Average Rent $1,170 $1,280 $1,540 $1,950 $2,280
High Rent(110%) $1,287 $1,408 $1,694 $2,145 $2,508
2023 Oxford, NJ 7863 Low Rent (90%) $819 $909 $1,107 $1,368 $1,575
Average Rent $910 $1,010 $1,230 $1,520 $1,750
High Rent (110%) $1,001 $1,111 $1,353 $1,672 $1,925
2022 Oxford, NJ 7863 Low Rent (90%) $765 $855 $1,044 $1,296 $1,494
Average Rent $850 $950 $1,160 $1,440 $1,660
High Rent(110%) $935 $1,045 $1,276 $1,584 $1,826
2021 Oxford, NJ 7863 Low Rent (90%) $810 $945 $1,125 $1,413 $1,656
Average Rent $900 $1,050 $1,250 $1,570 $1,840
High Rent (110%) $990 $1,155 $1,375 $1,727 $2,024
2020 Oxford, NJ 7863 Low Rent (90%) $891 $1,044 $1,242 $1,566 $1,836
Average Rent $990 $1,160 $1,380 $1,740 $2,040
High Rent(110%) $1,089 $1,276 $1,518 $1,914 $2,244
2019 Oxford, NJ 7863 Low Rent (90%) $981 $1,152 $1,377 $1,737 $2,034
Average Rent $1,090 $1,280 $1,530 $1,930 $2,260
High Rent (110%) $1,199 $1,408 $1,683 $2,123 $2,486


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