Location: Nashua, NH | Metro: Lawrence, MA-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 | $1,410 |
| 1 Bedroom | $1,560 |
| 2 Bedrooms | $2,050 |
| 3 Bedrooms | $2,540 |
| 4 Bedrooms | $2,710 |
| 5 Bedrooms | $3,144 |
| 6 Bedrooms | $3,521 |
| 7 Bedrooms | $3,803 |
| 8 Bedrooms | $3,993 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,050 | $563,595 | 0.36% | F |
| 3BR | $2,540 | $662,312 | 0.38% | F |
| 4BR | $2,710 | $829,632 | 0.33% | F |
| 5BR | $3,144 | $771,826 | 0.41% | F |
U.S. Census Bureau data (2024)
ZIP code 03076, located in Pelham, NH, falls within the Nashua, NH HUD Metro FMR Area. Its Fair Market Rent (FMR) for fiscal year 2024 is set at $1850, which is higher than the market rent figure of $1,425. This suggests that the area is somewhat overvalued when it comes to rental costs compared to the actual market conditions.
The median home value in ZIP 03076 is $678,139, indicating that it is a middle to upper-middle-class neighborhood. The renter share stands at 13.3%, which is relatively low compared to many other ZIP codes within the Nashua metro area where renter shares can be significantly higher. This lower renter share implies that homeownership is more prevalent in Pelham.
When comparing these figures to typical ZIP codes within the Nashua, NH HUD Metro FMR Area, we see that 03076 has a slightly above-average FMR and market rent, but its home value is also notably high. The renter share is below average, suggesting that it is not a primary target for renters seeking affordable housing.
The divergence between the high FMR and the lower market rent could be seen as an opportunity for landlords who are willing to accept Section 8 vouchers, as they might be able to secure higher rents through the voucher program. However, the high median home value and low renter share indicate that Pelham is more of a mid-tier neighborhood rather than a value pocket or a premium sub-market. It is not likely to be a sweet spot for Section 8 due to the relatively high cost of living and property values.
Investors looking to capitalize on the differences between FMR and market rent should carefully consider the overall desirability of the area and the potential for attracting voucher holders. While there may be some opportunities, the general trend in Pelham suggests that it is a stable, middle-income neighborhood with limited Section 8 activity.
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.