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

Princeton, NJ 8544'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 8544 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 $1,224 to a high of $1,496, with an average of $1,360.
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 $1,800, peaking at a maximum of $2,200, and averaging at $2,000.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,178, a maximum of $2,662, and an average of $2,420.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,394 to a maximum of $2,926, with an average of $2,660.

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 Princeton, NJ 8544 Low Rent (90%) $1,224 $1,395 $1,800 $2,178 $2,394
Average Rent $1,360 $1,550 $2,000 $2,420 $2,660
High Rent(110%) $1,496 $1,705 $2,200 $2,662 $2,926
2023 Princeton, NJ 8544 Low Rent (90%) $1,044 $1,188 $1,557 $1,899 $2,088
Average Rent $1,160 $1,320 $1,730 $2,110 $2,320
High Rent (110%) $1,276 $1,452 $1,903 $2,321 $2,552
2022 Princeton, NJ 8544 Low Rent (90%) $963 $1,098 $1,449 $1,791 $1,962
Average Rent $1,070 $1,220 $1,610 $1,990 $2,180
High Rent(110%) $1,177 $1,342 $1,771 $2,189 $2,398
2021 Princeton, NJ 8544 Low Rent (90%) $918 $1,053 $1,386 $1,728 $1,899
Average Rent $1,020 $1,170 $1,540 $1,920 $2,110
High Rent (110%) $1,122 $1,287 $1,694 $2,112 $2,321
2020 Princeton, NJ 8544 Low Rent (90%) $855 $1,017 $1,314 $1,638 $1,854
Average Rent $950 $1,130 $1,460 $1,820 $2,060
High Rent(110%) $1,045 $1,243 $1,606 $2,002 $2,266
2019 Princeton, NJ 8544 Low Rent (90%) $810 $972 $1,224 $1,575 $1,791
Average Rent $900 $1,080 $1,360 $1,750 $1,990
High Rent (110%) $990 $1,188 $1,496 $1,925 $2,189


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