Location: Manchester, NH | Metro: Manchester, 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 | $1,890 |
| 1 Bedroom | $2,070 |
| 2 Bedrooms | $2,710 |
| 3 Bedrooms | $3,230 |
| 4 Bedrooms | $3,560 |
| 5 Bedrooms | $4,130 |
| 6 Bedrooms | $4,626 |
| 7 Bedrooms | $4,996 |
| 8 Bedrooms | $5,246 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,710 | $455,033 | 0.6% | F |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors targeting ZIP code 03101 in Manchester, New Hampshire, reveals a competitive rental environment. The HUD Fair Market Rent (FMR) for FY 2024 stands at $2280 per month, while the Zillow Observed Rent Index (ZORI) indicates an average market rent of $2285 per month. This slight discrepancy suggests that voucher tenants can achieve positive cash flow, albeit marginally, without requiring premium units. The median home value in this area is $433,515, which translates to a rent-to-price ratio of approximately 0.6%. This ratio indicates a stable housing market where rents are relatively low compared to property values.
In terms of days on the market (DOM), the data is currently unavailable, but it is crucial for understanding how quickly properties sell. Similarly, the percentage of homes that experience price cuts is also not available, yet this metric would provide insight into the challenges faced by sellers in the area. However, given the tight alignment between the HUD FMR and the market rent, it is evident that the rent-versus-buy dynamics are favorable for investors seeking steady cash flow.
The strongest investor angle in ZIP 03101 is likely to be cash flow. With rents closely matching the HUD FMR, landlords can expect reliable income streams from voucher tenants, making this a solid investment choice for those prioritizing consistent returns over speculative growth opportunities.
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.