Location: Merrimack County, NH | Metro: Belknap 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 | $1,230 |
| 1 Bedroom | $1,360 |
| 2 Bedrooms | $1,780 |
| 3 Bedrooms | $2,350 |
| 4 Bedrooms | $2,410 |
| 5 Bedrooms | $2,796 |
| 6 Bedrooms | $3,132 |
| 7 Bedrooms | $3,383 |
| 8 Bedrooms | $3,552 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,780 | $387,980 | 0.46% | F |
| 3BR | $2,350 | $515,837 | 0.46% | F |
| 4BR | $2,410 | $603,246 | 0.4% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 03237, which covers Gilmanton, NH, in Belknap County, are straightforward. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this ZIP code for fiscal year 2026 is set at $1,860. This figure represents the maximum amount that a landlord can charge a Section 8 tenant for rent.
Section 8 vouchers are designed to cover the difference between what a low-income family can afford and the SAFMR. The tenant's portion is generally 30% of their adjusted income, while the government pays the remainder up to the SAFMR limit. For example, if a tenant's monthly adjusted income is $1,500, they would be responsible for paying $450 towards rent, and the government would cover the rest, up to the SAFMR of $1,860. Therefore, the government would pay $1,410 in this scenario.
In addition to the base rent, Section 8 also includes utility allowances. These allowances vary but are typically around $300-$400 per month for electricity, gas, water, and sewer. If we assume an average utility allowance of $350, the total monthly reimbursement a landlord might receive could be as high as $1,760 ($1,410 for rent plus $350 for utilities).
This means that in ZIP 03237, there is a potential reimbursement gap of about $100 per month for a two-bedroom unit at the SAFMR rate. Landlords should consider this gap when deciding whether to participate in the Section 8 program. However, it's important to note that the actual reimbursement can vary based on the tenant's income and other factors, but it will never exceed the SAFMR of $1,860.
To summarize, landlords in Gilmanton, NH, can expect a reimbursement of up to $1,760 per month for a two-bedroom apartment, leaving a small gap of approximately $100. This SAFMR rate is specific to this ZIP code, ensuring that the reimbursement reflects the local rental market conditions.
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.