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

Wallpack Center, NJ 7881'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 7881 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 $1,224 to a high of $1,496, with an average of $1,360.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,323, a maximum of $1,617, and an average of $1,470.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,656, peaking at a maximum of $2,024, and averaging at $1,840.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,115, a maximum of $2,585, and an average of $2,350.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,565 to a maximum of $3,135, with an average of $2,850.

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 Wallpack Center, NJ 7881 Low Rent (90%) $1,224 $1,323 $1,656 $2,115 $2,565
Average Rent $1,360 $1,470 $1,840 $2,350 $2,850
High Rent(110%) $1,496 $1,617 $2,024 $2,585 $3,135
2023 Wallpack Center, NJ 7881 Low Rent (90%) $1,053 $1,143 $1,440 $1,845 $2,250
Average Rent $1,170 $1,270 $1,600 $2,050 $2,500
High Rent (110%) $1,287 $1,397 $1,760 $2,255 $2,750
2022 Wallpack Center, NJ 7881 Low Rent (90%) $990 $1,107 $1,350 $1,773 $2,142
Average Rent $1,100 $1,230 $1,500 $1,970 $2,380
High Rent(110%) $1,210 $1,353 $1,650 $2,167 $2,618
2021 Wallpack Center, NJ 7881 Low Rent (90%) $1,026 $1,125 $1,404 $1,890 $2,232
Average Rent $1,140 $1,250 $1,560 $2,100 $2,480
High Rent (110%) $1,254 $1,375 $1,716 $2,310 $2,728
2020 Wallpack Center, NJ 7881 Low Rent (90%) $954 $1,053 $1,323 $1,782 $2,043
Average Rent $1,060 $1,170 $1,470 $1,980 $2,270
High Rent(110%) $1,166 $1,287 $1,617 $2,178 $2,497
2019 Wallpack Center, NJ 7881 Low Rent (90%) $972 $1,107 $1,350 $1,719 $2,016
Average Rent $1,080 $1,230 $1,500 $1,910 $2,240
High Rent (110%) $1,188 $1,353 $1,650 $2,101 $2,464


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