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 |
|---|---|---|---|---|
| 1BR | $1,360 | $322,792 | 0.42% | F |
| 2BR | $1,780 | $384,247 | 0.46% | F |
| 3BR | $2,350 | $450,643 | 0.52% | F |
| 4BR | $2,410 | $531,194 | 0.45% | F |
U.S. Census Bureau data (2024)
The ZIP code 03276, located in Northfield, NH, within the Merrimack County, NH metro area, presents an interesting profile when compared to typical ZIP codes in the same county. With a Fair Market Rent (FMR) of $1,670 for fiscal year 2026, it stands slightly above the average market rent of $1,019. This indicates that 03276 is positioned somewhat higher on the rental spectrum than the general Merrimack County ZIP codes.
The median home value in ZIP 03276 is $425,848, which suggests a middle-ground scenario for housing costs within the Merrimack County metro. Home values can vary widely across different ZIP codes, but this figure places 03276 in a range that is neither excessively low nor high, making it a reasonable option for both landlords and small-portfolio investors.
The renter share in 03276 is 30.9%, which is notably higher than the typical Merrimack County ZIP. This elevated percentage of renters could be indicative of a section of the market that is attractive to those seeking rental properties. A high renter share combined with lower-than-metro average home values often signals a potential sweet spot for Section 8 properties. However, since the home value in 03276 is actually above the average for the county, this does not necessarily indicate a value pocket for Section 8 investments.
To determine if 03276 is a value pocket, a mid-tier neighborhood, or a premium sub-market, we must consider the interplay between its FMR, market rent, and home values. The FMR being higher than the market rent implies that there is a segment of the market that is priced above the typical rental rate, suggesting a mix of both affordable and premium rental options. Given the relatively high home values, it is unlikely that 03276 would be considered a value pocket where home values are significantly below the metro average. Instead, it appears to be a mid-tier neighborhood, offering a balance between rental opportunities and home values that are in line with or slightly above the Merrimack County average.
Investors looking at ZIP 03276 should take note of the higher-than-average renter share and consider how this aligns with their investment goals. While the area might not present the lowest entry point for home purchases, it offers a decent rental market and could serve as a stable investment opportunity within the Merrimack County metro.
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.