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

Belle Mead, NJ 8502'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 8502 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 $1,935 to a high of $2,365, with an average of $2,150.
One-bedroom: One-bedroom rental prices vary, with a minimum of $2,178, a maximum of $2,662, and an average of $2,420.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $2,745, peaking at a maximum of $3,355, and averaging at $3,050.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $3,321, a maximum of $4,059, and an average of $3,690.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $3,654 to a maximum of $4,466, with an average of $4,060.

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 Belle Mead, NJ 8502 Low Rent (90%) $1,935 $2,178 $2,745 $3,321 $3,654
Average Rent $2,150 $2,420 $3,050 $3,690 $4,060
High Rent(110%) $2,365 $2,662 $3,355 $4,059 $4,466
2023 Belle Mead, NJ 8502 Low Rent (90%) $1,656 $1,881 $2,376 $2,889 $3,195
Average Rent $1,840 $2,090 $2,640 $3,210 $3,550
High Rent (110%) $2,024 $2,299 $2,904 $3,531 $3,905
2022 Belle Mead, NJ 8502 Low Rent (90%) $1,611 $1,836 $2,340 $2,889 $3,222
Average Rent $1,790 $2,040 $2,600 $3,210 $3,580
High Rent(110%) $1,969 $2,244 $2,860 $3,531 $3,938
2021 Belle Mead, NJ 8502 Low Rent (90%) $1,548 $1,764 $2,259 $2,817 $3,213
Average Rent $1,720 $1,960 $2,510 $3,130 $3,570
High Rent (110%) $1,892 $2,156 $2,761 $3,443 $3,927
2020 Belle Mead, NJ 8502 Low Rent (90%) $1,521 $1,755 $2,250 $2,835 $3,267
Average Rent $1,690 $1,950 $2,500 $3,150 $3,630
High Rent(110%) $1,859 $2,145 $2,750 $3,465 $3,993
2019 Belle Mead, NJ 8502 Low Rent (90%) $1,440 $1,710 $2,196 $2,781 $3,267
Average Rent $1,600 $1,900 $2,440 $3,090 $3,630
High Rent (110%) $1,760 $2,090 $2,684 $3,399 $3,993


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