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

Mount Tabor, NJ 7878'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 7878 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 $1,692 to a high of $2,068, with an average of $1,880.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,944, a maximum of $2,376, and an average of $2,160.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $2,340, peaking at a maximum of $2,860, and averaging at $2,600.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,961, a maximum of $3,619, and an average of $3,290.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $3,420 to a maximum of $4,180, with an average of $3,800.

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 Mount Tabor, NJ 7878 Low Rent (90%) $1,692 $1,944 $2,340 $2,961 $3,420
Average Rent $1,880 $2,160 $2,600 $3,290 $3,800
High Rent(110%) $2,068 $2,376 $2,860 $3,619 $4,180
2023 Mount Tabor, NJ 7878 Low Rent (90%) $1,386 $1,647 $1,971 $2,502 $2,943
Average Rent $1,540 $1,830 $2,190 $2,780 $3,270
High Rent (110%) $1,694 $2,013 $2,409 $3,058 $3,597
2022 Mount Tabor, NJ 7878 Low Rent (90%) $1,350 $1,620 $1,953 $2,502 $2,979
Average Rent $1,500 $1,800 $2,170 $2,780 $3,310
High Rent(110%) $1,650 $1,980 $2,387 $3,058 $3,641
2021 Mount Tabor, NJ 7878 Low Rent (90%) $1,494 $1,791 $2,169 $2,772 $3,303
Average Rent $1,660 $1,990 $2,410 $3,080 $3,670
High Rent (110%) $1,826 $2,189 $2,651 $3,388 $4,037
2020 Mount Tabor, NJ 7878 Low Rent (90%) $1,395 $1,638 $1,998 $2,547 $3,015
Average Rent $1,550 $1,820 $2,220 $2,830 $3,350
High Rent(110%) $1,705 $2,002 $2,442 $3,113 $3,685
2019 Mount Tabor, NJ 7878 Low Rent (90%) $1,089 $1,242 $1,512 $1,926 $2,259
Average Rent $1,210 $1,380 $1,680 $2,140 $2,510
High Rent (110%) $1,331 $1,518 $1,848 $2,354 $2,761


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