Charlotte Section 8 fair market rent

[Cong Zhao]

Hi BP,

I live in Charlotte NC and have a townhouse currently rented to section 8 tenant. Rents are $995 for the past 2 years. I plan to increase rents when renewal next year, but having trouble figuring out what a fair market rent would be. GoSection8.com gives me an average of $1300, but it seems to be way high for this townhouse.

I understand that they will do an inspection and run their comps, but to figure out a good starting point. Should I simply ask housing authority about the fair market rent? Or just increase 3-5%?

Thank you all!

[Chris T.]

You can go to the HUD website and look up by zip code the Fair Market Rent guides that list by bedroom count.

HUD Fair Market Rents