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

Salem, OR 97304'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 97304 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 $1,215 to a high of $1,485, with an average of $1,350.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,305, a maximum of $1,595, and an average of $1,450.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,494, peaking at a maximum of $1,826, and averaging at $1,660.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,088, a maximum of $2,552, and an average of $2,320.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,430 to a maximum of $2,970, with an average of $2,700.

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 Salem, OR 97304 Low Rent (90%) $1,215 $1,305 $1,494 $2,088 $2,430
Average Rent $1,350 $1,450 $1,660 $2,320 $2,700
High Rent(110%) $1,485 $1,595 $1,826 $2,552 $2,970
2024 Salem, OR 97304 Low Rent (90%) $1,215 $1,305 $1,494 $2,088 $2,430
Average Rent $1,350 $1,450 $1,660 $2,320 $2,700
High Rent (110%) $1,485 $1,595 $1,826 $2,552 $2,970
2023 Salem, OR 97304 Low Rent (90%) $1,152 $1,233 $1,413 $1,989 $2,358
Average Rent $1,280 $1,370 $1,570 $2,210 $2,620
High Rent(110%) $1,408 $1,507 $1,727 $2,431 $2,882
2022 Salem, OR 97304 Low Rent (90%) $1,017 $1,080 $1,251 $1,782 $2,160
Average Rent $1,130 $1,200 $1,390 $1,980 $2,400
High Rent (110%) $1,243 $1,320 $1,529 $2,178 $2,640
2021 Salem, OR 97304 Low Rent (90%) $972 $1,053 $1,215 $1,755 $2,133
Average Rent $1,080 $1,170 $1,350 $1,950 $2,370
High Rent(110%) $1,188 $1,287 $1,485 $2,145 $2,607
2020 Salem, OR 97304 Low Rent (90%) $918 $1,008 $1,170 $1,692 $2,052
Average Rent $1,020 $1,120 $1,300 $1,880 $2,280
High Rent (110%) $1,122 $1,232 $1,430 $2,068 $2,508
2019 Salem, OR 97304 Low Rent (90%) $837 $918 $1,080 $1,575 $1,899
Average Rent $930 $1,020 $1,200 $1,750 $2,110
High Rent(110%) $1,023 $1,122 $1,320 $1,925 $2,321


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