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

Rockaway, NJ 7866'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 7866 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 $1,404 to a high of $1,716, with an average of $1,560.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,611, a maximum of $1,969, and an average of $1,790.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,944, peaking at a maximum of $2,376, and averaging at $2,160.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,457, a maximum of $3,003, and an average of $2,730.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,844 to a maximum of $3,476, with an average of $3,160.

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 Rockaway, NJ 7866 Low Rent (90%) $1,404 $1,611 $1,944 $2,457 $2,844
Average Rent $1,560 $1,790 $2,160 $2,730 $3,160
High Rent(110%) $1,716 $1,969 $2,376 $3,003 $3,476
2023 Rockaway, NJ 7866 Low Rent (90%) $1,143 $1,359 $1,629 $2,070 $2,430
Average Rent $1,270 $1,510 $1,810 $2,300 $2,700
High Rent (110%) $1,397 $1,661 $1,991 $2,530 $2,970
2022 Rockaway, NJ 7866 Low Rent (90%) $1,026 $1,233 $1,494 $1,908 $2,268
Average Rent $1,140 $1,370 $1,660 $2,120 $2,520
High Rent(110%) $1,254 $1,507 $1,826 $2,332 $2,772
2021 Rockaway, NJ 7866 Low Rent (90%) $1,134 $1,368 $1,656 $2,115 $2,520
Average Rent $1,260 $1,520 $1,840 $2,350 $2,800
High Rent (110%) $1,386 $1,672 $2,024 $2,585 $3,080
2020 Rockaway, NJ 7866 Low Rent (90%) $1,035 $1,224 $1,485 $1,890 $2,241
Average Rent $1,150 $1,360 $1,650 $2,100 $2,490
High Rent(110%) $1,265 $1,496 $1,815 $2,310 $2,739
2019 Rockaway, NJ 7866 Low Rent (90%) $1,026 $1,170 $1,422 $1,818 $2,124
Average Rent $1,140 $1,300 $1,580 $2,020 $2,360
High Rent (110%) $1,254 $1,430 $1,738 $2,222 $2,596


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