Location: Western Rockingham County, NH | Metro: Western Rockingham County, 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 | $2,100 |
| 1 Bedroom | $2,120 |
| 2 Bedrooms | $2,770 |
| 3 Bedrooms | $3,760 |
| 4 Bedrooms | $3,780 |
| 5 Bedrooms | $4,385 |
| 6 Bedrooms | $4,911 |
| 7 Bedrooms | $5,304 |
| 8 Bedrooms | $5,569 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,770 | $619,449 | 0.45% | F |
| 3BR | $3,760 | $668,037 | 0.56% | F |
| 4BR | $3,780 | $852,185 | 0.44% | F |
U.S. Census Bureau data (2024)
The potential risks for investing in Section 8 properties in ZIP code 03032 in Auburn, NH, are significant. Tenant turnover is a major concern, as the market rent stands at $1,893, while the Fair Market Rent (FMR) for FY 2024 is set at $2,670. This discrepancy suggests that tenants may find it difficult to afford the higher FMR once they leave the subsidized program, leading to frequent moves and higher vacancy rates. The vacancy exposure is further exacerbated by the fact that the average days on market (DOM) for rental listings is not available, indicating an unstable rental market. Additionally, the deferred maintenance exposure is considerable, given the typical home value of $709,960 and the median income of $153,253. Landlords should be prepared to invest in maintaining properties to meet the standards required by the Section 8 program.
However, these risks must be weighed against the strong demand for rental housing in the area. With a 6.1% renter share, Auburn has a relatively high concentration of renters, which typically translates into higher demand for Section 8 vouchers. This demand can help stabilize occupancy rates and reduce the financial impact of vacancies. Despite the challenges, the high renter density provides a buffer against some of the risks associated with Section 8 investments.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.