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

Cave Creek, AZ 85331'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 85331 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 $1,971 to a high of $2,409, with an average of $2,190.
One-bedroom: One-bedroom rental prices vary, with a minimum of $2,160, a maximum of $2,640, and an average of $2,400.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $2,538, peaking at a maximum of $3,102, and averaging at $2,820.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $3,438, a maximum of $4,202, and an average of $3,820.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $3,906 to a maximum of $4,774, with an average of $4,340.

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 Cave Creek, AZ 85331 Low Rent (90%) $1,971 $2,160 $2,538 $3,438 $3,906
Average Rent $2,190 $2,400 $2,820 $3,820 $4,340
High Rent(110%) $2,409 $2,640 $3,102 $4,202 $4,774
2023 Cave Creek, AZ 85331 Low Rent (90%) $1,818 $1,980 $2,349 $3,222 $3,663
Average Rent $2,020 $2,200 $2,610 $3,580 $4,070
High Rent (110%) $2,222 $2,420 $2,871 $3,938 $4,477
2022 Cave Creek, AZ 85331 Low Rent (90%) $1,359 $1,476 $1,773 $2,466 $2,808
Average Rent $1,510 $1,640 $1,970 $2,740 $3,120
High Rent(110%) $1,661 $1,804 $2,167 $3,014 $3,432
2021 Cave Creek, AZ 85331 Low Rent (90%) $1,260 $1,395 $1,692 $2,385 $2,718
Average Rent $1,400 $1,550 $1,880 $2,650 $3,020
High Rent (110%) $1,540 $1,705 $2,068 $2,915 $3,322
2020 Cave Creek, AZ 85331 Low Rent (90%) $1,134 $1,278 $1,566 $2,241 $2,556
Average Rent $1,260 $1,420 $1,740 $2,490 $2,840
High Rent(110%) $1,386 $1,562 $1,914 $2,739 $3,124
2019 Cave Creek, AZ 85331 Low Rent (90%) $1,008 $1,170 $1,449 $2,097 $2,394
Average Rent $1,120 $1,300 $1,610 $2,330 $2,660
High Rent (110%) $1,232 $1,430 $1,771 $2,563 $2,926


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