Location: Portsmouth-Rochester, NH | Metro: Lawrence, MA-NH HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,560 |
| 1 Bedroom | $1,630 |
| 2 Bedrooms | $2,140 |
| 3 Bedrooms | $2,770 |
| 4 Bedrooms | $2,880 |
| 5 Bedrooms | $3,341 |
| 6 Bedrooms | $3,742 |
| 7 Bedrooms | $4,041 |
| 8 Bedrooms | $4,243 |
U.S. Census Bureau data (2024)
The ZIP code 03290 in Nottingham, NH, stands out within Rockingham County due to its unique demographic and economic characteristics. With a population of 5,357, it has a notably low rental rate at 5.7%, indicating that the majority of residents own their homes. The median income for households in this area is $122,201, which is above the national average, suggesting a relatively affluent community. The median home value of $613,977 further underscores the financial stability of the neighborhood.
However, the voucher economics present an interesting opportunity for landlords and small-portfolio investors. The Fair Market Rent (FMR) for ZIP 03290, set at $1,610 for fiscal year 2024, is significantly lower than the market rent, which is estimated at $2,068 based on Census ACS data. This discrepancy means that landlords can potentially secure long-term tenants through the Section 8 program while still maintaining profitability. It also indicates that there might be a segment of the market where lower-income families are seeking affordable housing options, making Section 8 vouchers a viable tool for landlords to attract these tenants.
Given the data signature, ZIP 03290 appears to be a stable area. The high median home value and income levels suggest a strong local economy and a preference for homeownership among residents. However, the low rental rate and the difference between FMR and market rent hint at a transitional aspect, particularly in the rental market. Landlords and investors should consider the potential benefits of participating in the Section 8 program to tap into the needs of lower-income families looking for affordable housing in a generally stable and affluent environment.
Data Sources: FMR data from HUD (2027). 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.