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

Oldwick, NJ 8858'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 8858 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 $1,368 to a high of $1,672, with an average of $1,520.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,539, a maximum of $1,881, and an average of $1,710.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,935, peaking at a maximum of $2,365, and averaging at $2,150.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,340, a maximum of $2,860, and an average of $2,600.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,574 to a maximum of $3,146, with an average of $2,860.

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 Oldwick, NJ 8858 Low Rent (90%) $1,368 $1,539 $1,935 $2,340 $2,574
Average Rent $1,520 $1,710 $2,150 $2,600 $2,860
High Rent(110%) $1,672 $1,881 $2,365 $2,860 $3,146
2023 Oldwick, NJ 8858 Low Rent (90%) $1,368 $1,557 $1,971 $2,394 $2,646
Average Rent $1,520 $1,730 $2,190 $2,660 $2,940
High Rent (110%) $1,672 $1,903 $2,409 $2,926 $3,234
2022 Oldwick, NJ 8858 Low Rent (90%) $1,305 $1,485 $1,890 $2,331 $2,601
Average Rent $1,450 $1,650 $2,100 $2,590 $2,890
High Rent(110%) $1,595 $1,815 $2,310 $2,849 $3,179
2021 Oldwick, NJ 8858 Low Rent (90%) $1,287 $1,467 $1,872 $2,340 $2,664
Average Rent $1,430 $1,630 $2,080 $2,600 $2,960
High Rent (110%) $1,573 $1,793 $2,288 $2,860 $3,256
2020 Oldwick, NJ 8858 Low Rent (90%) $1,332 $1,548 $1,980 $2,493 $2,880
Average Rent $1,480 $1,720 $2,200 $2,770 $3,200
High Rent(110%) $1,628 $1,892 $2,420 $3,047 $3,520
2019 Oldwick, NJ 8858 Low Rent (90%) $1,017 $1,206 $1,548 $1,962 $2,304
Average Rent $1,130 $1,340 $1,720 $2,180 $2,560
High Rent (110%) $1,243 $1,474 $1,892 $2,398 $2,816


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