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 | $1,230 |
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,780 | $426,198 | 0.42% | F |
| 3BR | $2,350 | $552,374 | 0.43% | F |
| 4BR | $2,360 | $683,770 | 0.35% | F |
U.S. Census Bureau data (2024)
In ZIP code 03287, which encompasses Wilmot, NH in Merrimack County, the economics of Section 8 vouchers can be clearly defined. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this specific ZIP code for fiscal year 2026 is set at $1,890. However, the local market rent for a similar unit is much lower, running at $1,125 according to the Census ACS.
The SAFMR represents the maximum amount that a Section 8 voucher will cover for rent. But it's important to understand that this isn't the total amount a landlord will receive. The voucher program requires tenants to pay a portion of their income towards rent, typically 30% of their adjusted monthly income. This amount is then supplemented by the voucher to reach the SAFMR limit.
To illustrate, if a tenant has an adjusted monthly income of $1,000, they would be required to pay $300 towards rent. The remaining balance to meet the SAFMR of $1,890 would be covered by the voucher, amounting to $1,590. Additionally, the voucher includes utility allowances, which vary but are crucial for covering electricity, water, and other household services.
The utility allowance for a two-bedroom unit in this ZIP code is set at $300 per month. This means that while the landlord receives $1,590 for rent, they also benefit from the $300 utility allowance, making the total reimbursement from the voucher program $1,890. It's worth noting that these figures are subject to change based on the tenant's income and any adjustments made by the housing authority.
Given that the local market rent is $1,125, landlords who accept Section 8 vouchers in ZIP 03287 will find themselves with a significant surplus. The difference between the SAFMR and the local market rent is $765 per month. This surplus allows landlords to potentially increase their profit margins beyond what they might expect from traditional rental agreements, without the risk of non-payment associated with low-income tenants.
In summary, for a two-bedroom apartment in ZIP 03287, landlords who participate in the Section 8 program can expect a reimbursement of $1,890, including both rent and utilities. This results in a surplus of $765 compared to the local market rent of $1,125, providing a clear economic advantage over standard market rates.
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.