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

Mount Ephraim, NJ 8059'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 8059 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 $1,089 to a high of $1,331, with an average of $1,210.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,206, a maximum of $1,474, and an average of $1,340.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,449, peaking at a maximum of $1,771, and averaging at $1,610.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,755, a maximum of $2,145, and an average of $1,950.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,025 to a maximum of $2,475, with an average of $2,250.

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 Ephraim, NJ 8059 Low Rent (90%) $1,089 $1,206 $1,449 $1,755 $2,025
Average Rent $1,210 $1,340 $1,610 $1,950 $2,250
High Rent(110%) $1,331 $1,474 $1,771 $2,145 $2,475
2023 Mount Ephraim, NJ 8059 Low Rent (90%) $864 $981 $1,179 $1,431 $1,665
Average Rent $960 $1,090 $1,310 $1,590 $1,850
High Rent (110%) $1,056 $1,199 $1,441 $1,749 $2,035
2022 Mount Ephraim, NJ 8059 Low Rent (90%) $747 $846 $1,026 $1,269 $1,449
Average Rent $830 $940 $1,140 $1,410 $1,610
High Rent(110%) $913 $1,034 $1,254 $1,551 $1,771
2021 Mount Ephraim, NJ 8059 Low Rent (90%) $729 $837 $1,017 $1,269 $1,449
Average Rent $810 $930 $1,130 $1,410 $1,610
High Rent (110%) $891 $1,023 $1,243 $1,551 $1,771
2020 Mount Ephraim, NJ 8059 Low Rent (90%) $711 $837 $1,008 $1,260 $1,440
Average Rent $790 $930 $1,120 $1,400 $1,600
High Rent(110%) $869 $1,023 $1,232 $1,540 $1,760
2019 Mount Ephraim, NJ 8059 Low Rent (90%) $702 $828 $999 $1,251 $1,431
Average Rent $780 $920 $1,110 $1,390 $1,590
High Rent (110%) $858 $1,012 $1,221 $1,529 $1,749


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