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

Lumberton, NJ 8048'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 8048 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 $1,386 to a high of $1,694, with an average of $1,540.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,539, a maximum of $1,881, and an average of $1,710.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,845, peaking at a maximum of $2,255, and averaging at $2,050.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,232, a maximum of $2,728, and an average of $2,480.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,574 to a maximum of $3,146, with an average of $2,860.

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 Lumberton, NJ 8048 Low Rent (90%) $1,386 $1,539 $1,845 $2,232 $2,574
Average Rent $1,540 $1,710 $2,050 $2,480 $2,860
High Rent(110%) $1,694 $1,881 $2,255 $2,728 $3,146
2023 Lumberton, NJ 8048 Low Rent (90%) $1,116 $1,260 $1,521 $1,854 $2,151
Average Rent $1,240 $1,400 $1,690 $2,060 $2,390
High Rent (110%) $1,364 $1,540 $1,859 $2,266 $2,629
2022 Lumberton, NJ 8048 Low Rent (90%) $963 $1,098 $1,332 $1,647 $1,890
Average Rent $1,070 $1,220 $1,480 $1,830 $2,100
High Rent(110%) $1,177 $1,342 $1,628 $2,013 $2,310
2021 Lumberton, NJ 8048 Low Rent (90%) $900 $1,044 $1,260 $1,566 $1,800
Average Rent $1,000 $1,160 $1,400 $1,740 $2,000
High Rent (110%) $1,100 $1,276 $1,540 $1,914 $2,200
2020 Lumberton, NJ 8048 Low Rent (90%) $846 $990 $1,197 $1,494 $1,710
Average Rent $940 $1,100 $1,330 $1,660 $1,900
High Rent(110%) $1,034 $1,210 $1,463 $1,826 $2,090
2019 Lumberton, NJ 8048 Low Rent (90%) $819 $963 $1,170 $1,467 $1,674
Average Rent $910 $1,070 $1,300 $1,630 $1,860
High Rent (110%) $1,001 $1,177 $1,430 $1,793 $2,046


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