Section 8 Fair Market Rent (FMR) for ZIP 03291 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 03291, located in West Nottingham, NH, represents a small-sized, tight-knit residential area with approximately 134 residents. This community has a median household income of $48,291, which is significantly higher than the state average, indicating a relatively affluent area. The median home value stands at $197,123, also above the state average, reflecting an affordable housing market.

The Federal Market Rent (FMR) for ZIP 03291 in fiscal year 2024 is set at $1610, which is notably lower than the typical market rent in the area. This discrepancy suggests that landlords participating in the Section 8 program could see a substantial difference between the voucher amount and the actual rental market rates.

Given the high median income and median home values, the area is more suitable for a hands-on value-add buyer rather than a hands-off voucher operator. The community’s young and dynamic population, coupled with its strong educational attainment—100% of adults aged 25 and older hold a bachelor's degree or higher—indicates potential for growth and investment. Landlords looking to enhance property values through renovations or improvements will likely find a receptive audience among the local tenants.

To conclude, the combination of an above-average median income and median home values, along with a robust educational background of the residents, points towards a promising opportunity for active investors who can add value to their properties. The disparity between the FMR and market rents also provides a clear incentive for engaging in the local rental market beyond the basic voucher program.

Data Sources: FMR data from HUD (2027).

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.