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

Corona, NM 88318'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 88318 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 $621 to a high of $759, with an average of $690.
One-bedroom: One-bedroom rental prices vary, with a minimum of $765, a maximum of $935, and an average of $850.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $927, peaking at a maximum of $1,133, and averaging at $1,030.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,323, a maximum of $1,617, and an average of $1,470.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $1,584 to a maximum of $1,936, with an average of $1,760.

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 Corona, NM 88318 Low Rent (90%) $621 $765 $927 $1,323 $1,584
Average Rent $690 $850 $1,030 $1,470 $1,760
High Rent(110%) $759 $935 $1,133 $1,617 $1,936
2023 Corona, NM 88318 Low Rent (90%) $594 $729 $882 $1,251 $1,503
Average Rent $660 $810 $980 $1,390 $1,670
High Rent (110%) $726 $891 $1,078 $1,529 $1,837
2022 Corona, NM 88318 Low Rent (90%) $549 $675 $819 $1,161 $1,404
Average Rent $610 $750 $910 $1,290 $1,560
High Rent(110%) $671 $825 $1,001 $1,419 $1,716
2021 Corona, NM 88318 Low Rent (90%) $522 $648 $792 $1,134 $1,359
Average Rent $580 $720 $880 $1,260 $1,510
High Rent (110%) $638 $792 $968 $1,386 $1,661
2020 Corona, NM 88318 Low Rent (90%) $477 $603 $738 $1,062 $1,269
Average Rent $530 $670 $820 $1,180 $1,410
High Rent(110%) $583 $737 $902 $1,298 $1,551
2019 Corona, NM 88318 Low Rent (90%) $459 $585 $720 $1,044 $1,242
Average Rent $510 $650 $800 $1,160 $1,380
High Rent (110%) $561 $715 $880 $1,276 $1,518


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