Location: Hillsborough County, NH | Metro: Hillsborough County, NH (part) 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 | $1,390 |
| 1 Bedroom | $1,530 |
| 2 Bedrooms | $2,000 |
| 3 Bedrooms | $2,380 |
| 4 Bedrooms | $3,340 |
| 5 Bedrooms | $3,874 |
| 6 Bedrooms | $4,339 |
| 7 Bedrooms | $4,686 |
| 8 Bedrooms | $4,920 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,000 | $414,408 | 0.48% | F |
| 3BR | $2,380 | $560,846 | 0.42% | F |
| 4BR | $3,340 | $697,781 | 0.48% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 03043, located in Francestown, NH, within the Hillsborough County, NH (part) HUD Metro FMR Area, reveals several key points that are crucial for landlords and small-portfolio investors.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for the area is set at $1,530 for fiscal year 2024, according to HUD. However, the Census ACS reports a market rent of $1,358. This suggests that while the FMR is higher, landlords should be cautious about setting rents above the market rate, as it could lead to vacancies. It's advisable to align with the market rent of $1,358 to ensure occupancy.
The second question pertains to the affordability of acquisition. With a median home value of $528,537, purchasing properties in this area is not inexpensive. Given that the data does not provide a specific number of days on the market (DOM) or a percentage of homes that had their prices cut, it's difficult to assess the exact dynamics of the housing market. However, the high median home value indicates that acquisitions might be challenging unless investors have substantial capital.
The third question concerns tenant demand. Francestown has a population of 1,398, with only 4.7% being renters. This low renter share implies a limited pool of potential tenants, which could pose challenges for maintaining occupancy rates. Landlords would need to offer competitive rents and amenities to attract and retain tenants in this market.
In conclusion, while the FMR is higher than the market rent, landlords should adhere to the actual market conditions to ensure occupancy. Acquisition is costly, with a median home value of $528,537, and the low renter share of 4.7% means tenant demand is limited. These factors suggest that investing in this ZIP code requires careful consideration and a strategic approach to pricing and property management to succeed. Investors must weigh the high costs of entry against the potential for stable but modest returns, given the constrained rental market.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.