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

Deepwater, NJ 8023'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 8023 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 $1,260 to a high of $1,540, with an average of $1,400.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,395, a maximum of $1,705, and an average of $1,550.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,674, peaking at a maximum of $2,046, and averaging at $1,860.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,025, a maximum of $2,475, and an average of $2,250.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,331 to a maximum of $2,849, with an average of $2,590.

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 Deepwater, NJ 8023 Low Rent (90%) $1,260 $1,395 $1,674 $2,025 $2,331
Average Rent $1,400 $1,550 $1,860 $2,250 $2,590
High Rent(110%) $1,540 $1,705 $2,046 $2,475 $2,849
2023 Deepwater, NJ 8023 Low Rent (90%) $1,080 $1,215 $1,467 $1,782 $2,079
Average Rent $1,200 $1,350 $1,630 $1,980 $2,310
High Rent (110%) $1,320 $1,485 $1,793 $2,178 $2,541
2022 Deepwater, NJ 8023 Low Rent (90%) $972 $1,107 $1,341 $1,656 $1,899
Average Rent $1,080 $1,230 $1,490 $1,840 $2,110
High Rent(110%) $1,188 $1,353 $1,639 $2,024 $2,321
2021 Deepwater, NJ 8023 Low Rent (90%) $981 $1,134 $1,377 $1,710 $1,962
Average Rent $1,090 $1,260 $1,530 $1,900 $2,180
High Rent (110%) $1,199 $1,386 $1,683 $2,090 $2,398
2020 Deepwater, NJ 8023 Low Rent (90%) $1,026 $1,197 $1,449 $1,809 $2,070
Average Rent $1,140 $1,330 $1,610 $2,010 $2,300
High Rent(110%) $1,254 $1,463 $1,771 $2,211 $2,530
2019 Deepwater, NJ 8023 Low Rent (90%) $1,053 $1,242 $1,503 $1,881 $2,151
Average Rent $1,170 $1,380 $1,670 $2,090 $2,390
High Rent (110%) $1,287 $1,518 $1,837 $2,299 $2,629


Discover Section 8 FMR by zip code