Location: Merrimack 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 | $1,550 |
| 1 Bedroom | $1,620 |
| 2 Bedrooms | $2,120 |
| 3 Bedrooms | $2,830 |
| 4 Bedrooms | $2,880 |
| 5 Bedrooms | $3,341 |
| 6 Bedrooms | $3,742 |
| 7 Bedrooms | $4,041 |
| 8 Bedrooms | $4,243 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,120 | $540,081 | 0.39% | F |
| 3BR | $2,830 | $614,159 | 0.46% | F |
| 4BR | $2,880 | $744,691 | 0.39% | F |
U.S. Census Bureau data (2024)
The Section 8 market in ZIP code 03034, which includes Candia, NH, parts of Rockingham County, and the Merrimack County metro area, presents a clear opportunity for investors. The Fair Market Rent (FMR) set by HUD for this region in fiscal year 2024 is $2200. This figure is significantly higher than the average market rent reported by the Census Bureau's American Community Survey (ACS), which stands at $1213. This gap suggests that voucher tenants can indeed generate positive cash flow when renting at the HUD FMR rate.
To further analyze the investment potential, consider the median home value in the area, which is $595,531. Using the HUD FMR of $2200, we calculate the rent-to-price ratio as approximately 0.37%. This ratio indicates that rental income is relatively low compared to the median home value, suggesting that the primary benefit for investors would be through cash flow rather than property appreciation.
The dynamics of days on market (DOM) and the percentage of price cuts are not available, but given the significant difference between the HUD FMR and the market rent, it's likely that the stability of rental income from voucher tenants outweighs any concerns about the time it takes to sell properties or the need to reduce asking prices.
The strongest angle for Section 8 investors in ZIP 03034 is undoubtedly cash flow, due to the substantial discrepancy between the HUD FMR and the actual market rents.
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.