Section 8 Fair Market Rent (FMR) for ZIP 03061 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 03061 represents a part of Nashua, New Hampshire, known for its urban charm and proximity to amenities. According to the available data, there is no census information directly tied to ZIP 03061, which means we lack precise figures on population, percentage of renters, median income, and median home value. However, the broader Nashua area offers some context.

In terms of rent economics, the Fair Market Rent (FMR) for ZIP 03061 in fiscal year 2024 is set at $1830 for a two-bedroom apartment. This figure is used by the U.S. Department of Housing and Urban Development (HUD) to determine the payment standard for Section 8 vouchers. Comparatively, market rents for similar properties can be higher. For instance, the Lofts 34 List offers a starting rent of $2,310 for a two-bedroom unit, indicating a premium over the FMR.

The practical question for investors is whether this area suits a hands-off voucher operator or requires a more hands-on approach. Given the disparity between FMR and market rents, hands-on value-add buyers could potentially see better returns by improving property quality and positioning it above the FMR threshold. On the other hand, hands-off operators might find the FMR sufficient to cover their expenses and provide stable, if modest, cash flows.

To make a more informed decision, landlords and investors should consider the broader Nashua market conditions, including employment opportunities, school quality, and access to public transportation. These factors influence both the demand for rentals and the willingness of residents to pay above FMR levels.

Data Sources: FMR data from HUD (2027).

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.