Location: Merrimack County, NH | Metro: Merrimack County, NH
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 | $1,300 |
| 1 Bedroom | $1,420 |
| 2 Bedrooms | $1,860 |
| 3 Bedrooms | $2,440 |
| 4 Bedrooms | $2,440 |
| 5 Bedrooms | $2,830 |
| 6 Bedrooms | $3,170 |
| 7 Bedrooms | $3,424 |
| 8 Bedrooms | $3,595 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,860 | $419,581 | 0.44% | F |
| 3BR | $2,440 | $506,297 | 0.48% | F |
| 4BR | $2,440 | $597,311 | 0.41% | F |
U.S. Census Bureau data (2024)
The median income in ZIP 03234, which includes Epsom, NH, stands at $97,941. Given the market rate for rent at $1,212 according to the Census ACS, it becomes evident that the average household here faces a significant challenge in affording housing without financial assistance. To put this into perspective, the renter's share of income required to cover the market rate is approximately 12.4%, a figure that could be manageable but is still notable when considering other living expenses.
In comparison, the Fair Market Rent (FMR) set at $1,700 for fiscal year 2024 provides a higher benchmark. This means that the market rate of $1,212 is below the FMR, indicating that the area may attract tenants who qualify for housing vouchers. The voucher system allows recipients to pay up to 30% of their adjusted income towards rent, with the government covering the remainder up to the FMR. For a household earning the median income of $97,941, the maximum they would pay under a voucher program would be around $244 per month, significantly less than the market rate.
The ZIP code has a relatively low percentage of renters at 12.4%, with a total population of 4,939. This suggests that the competition among landlords might not be as fierce as in areas with higher rental percentages. However, the affordability gap between the median income and both the market rate and FMR implies that many potential renters may rely on financial aid to secure housing. As a result, landlords who accept housing vouchers can tap into a segment of the market that otherwise might struggle to find suitable accommodation.
The takeaway for landlords is clear: accepting housing vouchers can be a strategic advantage. While cash-paying tenants may offer immediate simplicity, the voucher program ensures a steady stream of tenants who can afford to live in the area. Moreover, landlords receive guaranteed payments from the government, reducing the risk of unpaid rent. In an environment where the median income is already stretched by the market rate, vouchers represent a viable option for both tenants and landlords, fostering a stable rental market.
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.