Location: Nashua, NH | Metro: Manchester, NH HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,350 |
| 1 Bedroom | $1,560 |
| 2 Bedrooms | $1,940 |
| 3 Bedrooms | $2,540 |
| 4 Bedrooms | $2,750 |
| 5 Bedrooms | $3,190 |
| 6 Bedrooms | $3,573 |
| 7 Bedrooms | $3,859 |
| 8 Bedrooms | $4,052 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,940 | $525,746 | 0.37% | F |
| 3BR | $2,540 | $625,329 | 0.41% | F |
| 4BR | $2,750 | $768,625 | 0.36% | F |
| 5BR | $3,190 | $942,222 | 0.34% | F |
U.S. Census Bureau data (2024)
The ZIP code 03031, located in Amherst, New Hampshire, presents an interesting landscape for both renters and landlords. The median income for households in this area stands at a robust $153,125. However, when considering the market rate for rent, which is reported to be $1,462 according to the Census ACS, it becomes evident that there is a significant portion of the population who might struggle with housing costs.
Comparatively, the Fair Market Rent (FMR) standard for the zip code for fiscal year 2024 is set at $1,850. This figure represents the maximum amount that a Section 8 voucher holder can pay towards their monthly rent. Given that the market rate is lower than the FMR, it suggests that voucher holders have some flexibility in finding affordable housing options within the area.
In Amherst, only 8.1% of the total population of 11,849 are renters. This low percentage indicates a competitive environment for landlords, where attracting tenants might require offering better amenities or lower rental rates compared to other areas with higher renter populations. The affordability gap between the median income and the market rate rent implies that many potential renters could find the area financially challenging without assistance such as Section 8 vouchers.
For landlords, understanding the dynamics of voucher versus cash-pay strategies is crucial. While cash-paying tenants might offer higher stability due to the direct payment structure, the presence of Section 8 voucher holders can provide a steady stream of income through government subsidies, especially in a market where the number of renters is limited. Landlords should weigh the benefits of accepting vouchers against the administrative requirements and ensure they understand the local housing needs to make informed decisions.
The takeaway is that landlords in Amherst, NH, must consider the financial capabilities of their potential tenant pool. Accepting Section 8 vouchers can open up opportunities to serve those who otherwise might not be able to afford living in the area, while also potentially securing a reliable source of income. However, the decision should be based on a thorough analysis of the local rental market and the specific needs of the community.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.