Section 8 Fair Market Rent (FMR) for ZIP 03224 - 2027

Location: Merrimack County, NH | Metro: Merrimack County, NH

Investment Score for ZIP 03224

Monthly Rent (2BR)

$1,780

Median Price (2BR)

$420,364

1% Rule

0.42%

Annual Yield

5.08%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,230
1 Bedroom	$1,360
2 Bedrooms	$1,780
3 Bedrooms	$2,350
4 Bedrooms	$2,360
5 Bedrooms	$2,738
6 Bedrooms	$3,067
7 Bedrooms	$3,312
8 Bedrooms	$3,478

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,780	$420,364	0.42%	F
3BR	$2,350	$549,319	0.43%	F
4BR	$2,360	$646,638	0.36%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

2,392

Median Household Income

$138,125

Housing Units

989

Renter Percentage

6.3%

Occupancy Rate

95.7%

Renter Occupied

The town of Canterbury, NH, encapsulated within ZIP code 03224, is a quiet suburban area known for its picturesque landscapes and serene living conditions. Nestled along the southern coast of New Hampshire, it offers a blend of rural charm and proximity to urban amenities, making it an attractive location for both residents and investors.

The Fair Market Rent (FMR) for ZIP 03224 in the fiscal year 2026 is set at $1,930, indicating a moderate rental price point that aligns with the area's character.
The actual market rent, according to Census ACS data, stands at $2,136, slightly above the FMR, suggesting that the local rental market is performing well and possibly benefiting from demand exceeding supply.
The median home value in Canterbury is $509,967, reflecting a stable housing market that is neither overheated nor undervalued.
Renters make up only 6.3% of the population, pointing to a predominantly owner-occupied community. This low renter share might indicate a challenge in finding tenants but also suggests potential for growth if the area becomes more attractive to renters.
The Days on Market (DOM) for properties in Canterbury is not available, which could imply either a very efficient real estate market or a lack of recent sales data to provide a clear picture.
The median household income in the area is a robust $138,125, indicative of a prosperous community with a strong economic base.

Given these metrics, investors looking to enter the Canterbury, NH, market should focus on properties that can command rents near the market rate of $2,136. The relatively high median income supports higher rental rates, but the low renter share means competition for tenants will be fierce. Landlords and small-portfolio investors should consider enhancing property values through improvements to justify premium rents and attract the affluent population. Despite the challenges posed by a low renter share, the overall economic health of the area and the steady median home value suggest that investments here are likely to be stable and potentially rewarding.

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.