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

Bernardsville, NJ 7924'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 7924 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 $1,602 to a high of $1,958, with an average of $1,780.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,800, a maximum of $2,200, and an average of $2,000.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $2,268, peaking at a maximum of $2,772, and averaging at $2,520.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,745, a maximum of $3,355, and an average of $3,050.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $3,024 to a maximum of $3,696, with an average of $3,360.

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 Bernardsville, NJ 7924 Low Rent (90%) $1,602 $1,800 $2,268 $2,745 $3,024
Average Rent $1,780 $2,000 $2,520 $3,050 $3,360
High Rent(110%) $1,958 $2,200 $2,772 $3,355 $3,696
2024 Bernardsville, NJ 7924 Low Rent (90%) $1,602 $1,800 $2,268 $2,745 $3,024
Average Rent $1,780 $2,000 $2,520 $3,050 $3,360
High Rent (110%) $1,958 $2,200 $2,772 $3,355 $3,696
2023 Bernardsville, NJ 7924 Low Rent (90%) $1,422 $1,611 $2,043 $2,484 $2,745
Average Rent $1,580 $1,790 $2,270 $2,760 $3,050
High Rent(110%) $1,738 $1,969 $2,497 $3,036 $3,355
2022 Bernardsville, NJ 7924 Low Rent (90%) $1,386 $1,584 $2,016 $2,493 $2,772
Average Rent $1,540 $1,760 $2,240 $2,770 $3,080
High Rent (110%) $1,694 $1,936 $2,464 $3,047 $3,388
2021 Bernardsville, NJ 7924 Low Rent (90%) $1,341 $1,530 $1,953 $2,439 $2,772
Average Rent $1,490 $1,700 $2,170 $2,710 $3,080
High Rent(110%) $1,639 $1,870 $2,387 $2,981 $3,388
2020 Bernardsville, NJ 7924 Low Rent (90%) $1,314 $1,521 $1,953 $2,457 $2,835
Average Rent $1,460 $1,690 $2,170 $2,730 $3,150
High Rent (110%) $1,606 $1,859 $2,387 $3,003 $3,465
2019 Bernardsville, NJ 7924 Low Rent (90%) $1,215 $1,440 $1,845 $2,340 $2,745
Average Rent $1,350 $1,600 $2,050 $2,600 $3,050
High Rent(110%) $1,485 $1,760 $2,255 $2,860 $3,355


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